New Law in Germany Embraces All-Electronic and Blockchain Crypto Securities
Bertram Hung
Adoption
3 years ago
1 QCP
https://news.bitcoin.com/new-germany-law-embraces-all-electronic-and-blockchain-crypto-securities/
According to a report, the paper certificate can now be “replaced with an entry in a central securities depository or a register kept by private-sector banks.” The report also speculates that this means “an entry in a crypto securities register based on blockchain technology is now also possible.” German government officials say the law would provide legal clarity and enhance the potential of the new technologies.
Meanwhile, echoing Scholz’s sentiments is the country’s Justice Minister Christine Lambrecht. The cabinet member expresses confidence that digitization of the financial market will accelerate through the use of the blockchain. She adds that the passing of the legislation significantly “expands the innovative potential of these technologies for the German financial centre.”
In the meantime, another report says Germany’s staged approach towards electronic securities appears cautious yet it “also seems to go further than other European countries that already allow electronic securities.” For instance, while France has for two years allowed the blockchain-based trading of securities this however is only applicable to “non-listed securities that do not use existing securities settlement systems.”
According to a report, the paper certificate can now be “replaced with an entry in a central securities depository or a register kept by private-sector banks.” The report also speculates that this means “an entry in a crypto securities register based on blockchain technology is now also possible.” German government officials say the law would provide legal clarity and enhance the potential of the new technologies.
Meanwhile, echoing Scholz’s sentiments is the country’s Justice Minister Christine Lambrecht. The cabinet member expresses confidence that digitization of the financial market will accelerate through the use of the blockchain. She adds that the passing of the legislation significantly “expands the innovative potential of these technologies for the German financial centre.”
In the meantime, another report says Germany’s staged approach towards electronic securities appears cautious yet it “also seems to go further than other European countries that already allow electronic securities.” For instance, while France has for two years allowed the blockchain-based trading of securities this however is only applicable to “non-listed securities that do not use existing securities settlement systems.”
- Bitcoin
- Germany
- Crypto
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