The German Federal Ministry of Finance has issued a document on the introduction of regulations for blockchain-based securities and the issuance of crypto tokens.
The paper was initially published on March 7, 2019. The measures aim to strengthen the role of Germany as one of the leading fintech countries.
According the paper, the issuance of crypto tokens will be out of market regulations as crypto tokens do not represent securities, investment or other financial instruments.
The regulation of electronic securities should be technology-neutral, which means that they could be based on blockchain, or distributed ledger technology (DLT).
The announcements reads that, before proposing a draft bill on the subject, the Federal Ministry of Justice and Consumer Protection and the Federal Ministry of Finance should come up with a comprehensive picture of the measures outlined in the key issues paper.
As a reminder, a short time ago, the chief executive body of the German government, the Cabinet of Germany, announced that the country’s blockchain strategy will be introduced by mid-2019.