A draft law by the government, the licensing requirement for the operation of Bitcoin exchanges by 2020. Accordingly, both the Exchanges as well as so-called Custodians, so the asset Manager for crypto-Assets, approval of the BaFin must obtain.

David-separator
24. July 2019BTC$9.883,00 -1.21%part Facebook Twitter LinkedIn xing mail

„change Directive the Fourth EU Directive on money laundering“ is the name of a draft law on the FAZ first reported. This provides – in addition to the regulation of auction houses – the stricter supervision of crypto-exchanges, such as the bitcoin.de . The design according to security currencies from 2020, as a new financial instrument to be defined, so that such Trustee services are covered under the financial services.

The design is supposed to prevent that, you can conceal money-laundering activities by means of BTC & co.. Bitcoin exchanges fall from next year, under the Anti-money laundering law, you must therefore first obtain a permit from the financial Supervisory authority, BaFin, before they are allowed to offer their services. Whether any of the existing Exchanges, such as bitcoin.de to obtain such a permit in the following, is currently unclear.

Now, the government is forcing, with excessive demands, the provider of trading platforms for crypto-currencies to leave the country and seek in the EU a different location

formulated for the FDP Bundestag member Frank Schäffler, the, in his view, excessive regulation intentions. It calls for uniform rules within the EU, to prevent it from Moving to States with laxer rules. You don’t need a „regulatory patchwork in Europe“.

According to court decision: Federal government to rework announced for Bitcoin regulation

The draft law is to be seen against the Background of the judgment of the Berlin court of appeal, according to the Bitcoin is not a financial instrument within the meaning of the banking act. The Federal government had promised in the aftermath, to ensure, to the extent legal certainty – this is going to happen now apparently. Because from 2020 onwards, exactly: is Bitcoin part of the banking act. So far, only the commercial trade with Bitcoin & co. stand, therefore, under the reservation of authorisation of the financial supervision. A General criminalisation of the castle, the court of appeal in its judgment of October 2018: „The chamber has not denied the culpability of the actions of the accused, since the trading Bitcoin permission in the identified Form required. In the case of Bitcoin, it were not a financial instrument within the meaning of the KWG.“

Now on crypto-currencies to invest: , crypto currencies, buy, sell, or trade – we have selected the best Broker, stock exchanges and certificates: buy Bitcoin | Ether buy | Ripple buy | IOTA buy | Broker comparison

More on the topic:

the Interview to the Public STO the Foundation Group, said: „In five years, tokenization will become the Standard“ regulation: a Circle goes to Bermuda, Deutsche Bundesbank, sees Bitcoin as „speculative niche product“#BaFin#government#regulation