Germany legalizes digitized securities

Regulation

The German word for securities is wertpapieren, or “papers of worth,” which may soon be as outdated as nocturnal traders saying they’re burning the midnight oil.

Per a Reuters report from Wednesday, Merkel’s cabinet had passed a new law that will end the requirement to have a paper certificate for sale of a security, overtly looking to advance blockchain trading within the country.

German Finance Minister Olaf Scholtz reportedly said, “The paper certificate may be dear to some for nostalgic reasons, but the future belongs to its electronic version.” The Finance Ministry called the shift to all-electronic securities a component of its broader blockchain strategy.

While the German Finance Ministry and BaFin, its financial watchdog, are some of the most assertive in Europe, the country is at the forefront of security token adoption among major economies. Börse Stuttgart is known to be working on integrating security tokens, while BaFin has been supportive of platforms like Black Manta

Products You May Like

Articles You May Like

DeFi user pays $36K for one Uniswap transaction, as EIP-1559 draws closer
Altcoins nurse double-digit losses as Bitcoin bulls fight to retake $49K
Coinbase has held Bitcoin on its balance sheets since 2012
Polkadot (DOT) gains 42% ahead of its long-awaited parachain auctions
Monster bull flag for Yearn.finance puts $200,000 YFI price in play

Leave a Reply

Your email address will not be published. Required fields are marked *