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The German Federal Ministry of Finance has released a paper which discusses the first steps to regulating blockchain in the country.

Earlier this month, it was revealed that Germany had begun taking the first steps toward implementing blockchain on a wider scale, with initial plans to be released later this year. In this first move from the government, a paper by the German Federal Ministry of Finance which details the electronic securities and issuance off crypto tokens has been released.

The paper states that electronic security regulation should be technology-neutral, which implies it could function via blockchain or DLT technology. While crypto tokens will not be subject to the existing marketing regulations because they do not represent securities, investment or other financial instruments, in accordance with existing German law.

ICO’s, however, will be put up for further discussion because of the risk it poses to investors. The next step will be for the Federal Ministry of Justice and Consumer Protection and the Federal Ministry of Finance to attempt to implement measures outlined in this paper.

While the future of blockchain in Germany remains vague, this paper provides the first steps toward a wide-spread implementation of the technology and bodes well for the nation’s progress in doing so.

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