The German ministry of justice and the ministry of finance both proposed that the blockchain sector in the country needs a boost by launching a state-run register that will increase the use of blockchain technology, according to the Reuters report that we read more about in our blockchain news below.
According to the reports, there is a seven-page guideline that aims to create a register that will regulate the sector but will also protect investors from possible fraudulent activities. The document goes on to explain that the regulation in the sector could contribute to faster development of the technology.
Reuters stated that the current proposals regard to electronic bonds and that the digital stocks will possibly be added later.
The Cabinet of Germany, which is the chief executive body of the government, announced recently that the country will implement its new blockchain strategy by the end of the summer of 2019. The Ministry of Finance and the Ministry for Economic Affairs and Energy are the ministries in charge of preparing the guidelines but other ministries are expected to contribute.
Both of the ministries have spoken with the industry members in February and it turned out that one of the most important questions that remain to be solved is the legal protection of those who buy blockchain-based digital bonds. One way for that to happen is to allow only institutional investors to purchase the bonds.
As previously reported by DC Forecasts, Boerse Stuttgart Group, the second largest stock exchange in Germany, launched a crypto-trading app Bison that allows free-of-charge trading in BTC, LTC, ETH, and XRP.
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