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Author Topic: BaFin recognizes crypto assets as financial instruments  (Read 204 times)

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BaFin recognizes crypto assets as financial instruments
« on: March 16, 2020, 03:09:49 PM »
 The German regulator BaFIN will begin to regard all digital assets as financial instruments. As a consequence the regulator also wants all companies offering such instruments to get licensed by November this year.
Also, BaFIN defines digital assets like this: “a digital representation of a value that has not been issued or guaranteed by any central bank or public body, and is not necessarily linked to a currency specified by law, and that does not have the legal status of a currency or money, but is accepted as a medium of exchange by natural or legal persons and can be transmitted, stored and traded electronically.”

Source

About 40 banks were preparing to file for licenses before the pandemic crisis struck, what will happen by November is anyone’s guess.
 


 

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