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Small request: FDP sees a need for action in the case of crypto and Blockchain-regulation

reveals A Small request of the FDP group in the Bundestag, the Federal government has requirements in terms of Blockchain-regulatory action. In particular, with

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Small request: FDP sees a need for action in the case of crypto and Blockchain-regulation

reveals A Small request of the FDP group in the Bundestag, the Federal government has requirements in terms of Blockchain-regulatory action. In particular, with regard to the Token classification MDS see Frank Schäffler, the potential for improvement. He had put the question in a leading role.

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you can spot the answers to several Small requests, which had asked the FDP Bundestag member Frank Schäffler of the Federal government and the BTC-ECHO, it is clear: the Blockchain and crypto-Assets in Germany are still a marginal issue. When it comes to the annual volume of trade of crypto-Assets, the Federal government only, the reference to public sources such as coinmetrics.io. A survey on the Basis of a "uniform data basis [not] done", - stated in the response letter. In other words, The Federal government must rely on the assessment of the importance of crypto-Assets in the domestic third-party sources.

Uniform Standards for Security Token required

content of the request (print 19/10417) were also Token Security. So Schäffler from the Federal government wanted to know about how many Security Token Offerings (STOs) is currently in the BaFin for examination is available. Response:

Currently, the German Federal financial Supervisory authority (BaFin) are available in the prospectus the area of approx. 70 written requests for crypto-Token for editing. A low two-digit number of requests not applicable to cryptographic tokens, which can be evaluated as a "Security Token".

"The statutory review period," it says further, "amounts to 20 working days". When examining the high costs incurred by the applicants from time to time. Too high, how MdB Schäffler complains:

the examination of The Token takes too long and is for many companies too expensive. The Federal government should, therefore, finally, the BaFin with the Blockchain technology is transparent.

in Order to make the approval process more uniform, it calls for further, clear Standards, when, Token Token in Utility and when they fall under a Security Token:

is the Required legal certainty in the question of when a Token as securities and when is a prospectus-free Utility-Token are to be considered.

"in Addition, an anonymised decision, the collection should be made accessible to the public, from the past decisions of the BaFin to be seen. So could a Token provider before the expected regulation and the associated cost estimate,“ said the FDP politician.

Bitcoin ATM to operate in the grey zone

the BTC ATM that you hope for in this country for quite some time, with the voltage, was the subject of the request. So the members wanted to know how many Bitcoin ATMs in Germany are already installed on and how the Federal government is the legality of the same rating.

The answer:

The Federal government currently notes to a Bitcoin machine at five locations in Germany. The relevant facts [shall examine the BaFin currently].

The legal situation in regards to Bitcoin ATMs, it is still unclear. As a BaFin ban had tilted the Berlin chamber court by the end of 2018. The operators of Bitcoin ATMs operate, therefore, in a grey zone.

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