Germany plans to introduce draft regulations allowing blockchain bonds as soon as this summer, local daily business news outlet Handelsblatt reported May 9.
Citing Thomas Heilmann, the ruling coalition government's dedicated blockchain correspondent, the publication revealed the new legislation has already gained mainstream momentum, with a summary paper already in existence.
According to Heilmann, it is both necessary and advantageous for Germany to embrace blockchain with supportive regulation.
"We consider it to be of paramount importance that we bring blockchain technology forward for Germany, specifically in 2019," Handelsblatt quoted him as saying.
Germany has traditionally taken a conservative stance on both blockchain and cryptocurrency, with the country showing itself to be wary of bitcoin and other tokens in particular.
The current legal changes center on the idea of tokenizing processes currently done on paper, while enshrining blockchain token legality would prevent issues arising from them languishing in a regulatory gray area.
"The national government has finally woken up," Frank Schaeffler, the blockchain expert for Germany's Free Democratic Party, continued.
"Now things need to move fast. Crypto issuers and investors are looking for a regulated financial marketplace for their activities which we can present on the international stage. Germany has the chance to adopt a key position here."
Last month, nearby Liechtenstein, which like neighboring Switzerland has become known for its pro-crypto stance, rolled out blockchain bonds for the real estate sector.
This week, the country passed new regulation concerning tokenization and blockchain regulation.
Germany Plans Major Digital Token Regulation Effort in 2019, Says Source
Publié le May 10, 2019
by Cointele | Publié le Coinage
Coinage
Nouvelles récentes
Voir tout
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.