German venture capital firms Neufund and Freigeist VC have called on the country’s lawmakers to take immediate action to protect blockchain and cryptocurrency investments after a recent court ruling said that virtual trading is outside of existing laws. Regulatory uncertainty can badly damage Germany’s opportunities to take a leading role in the digital revolution, Zoe Adamovicz, the CEO of Neufund, and Frank Thelen, startup founder and tech investor at Freigeist VC, wrote in an open letter to Bundestag on Wednesday.

In September, the Berlin Regional Court decided that Bitcoin (BTC) and other cryptocurrencies do not meet the financial instrument definition in the current German legal framework and thus reversed a ruling by the country’s financial regulator that had put cryptos in this category. The court decisio…

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