Germany’s will allow crypto custodial firms.

Lawyer blockchain canada
Cryptocurrencies and blockchain regulation in Canada
11 April, 2022
Blockchain Lawyer Bosnia
Cryptocurrencies and Blockchain regulations in Bosnia and Herzegovina
20 April, 2022
Show all
Legal Blockchain Germany

Legal Blockchain Germany

Germany’s will allow crypto custodial firms.

Federal Financial Supervisory Authority (BaFin) issued on the 2th march 2020 a new guidance that clarifies the status of Bitcoin and cryptocurrencies.

We are a legal firm specialized in Blockchain, cryptocurrencies, smart contracts and tokenization.

 

Definition of cryptocurrency

They share the following attributes:

-are not issued or guaranteed by any central bank or public institution.

-not legally recognized as currency or money.

-are accepted as a medium of exchange. This is according to the sentence of TJUE (22 october 2015). The TJUE stated that Cryptocurrencies can be a means of payment. Bitcoin (and other cryptocurrencies) has no other purpose than to be used as a means of payment. Virtual currencies (using EU terminology) or cryptocurrencies (using common terminology) are means of payment if the parties consider it and accept it.

-That´s why cryptocurrencies can be a vehicle of payment or investment.

-Can bear the rights of traditional securities.

-Can be electronically stored, transferred, and traded.

 

Bitcoin and cryptocurrencies are financial instruments

BaFin provides a broad definition in order to include all digital assets relevant to the financial market. Also, the document stresses that cryptocurrencies are different from various kinds of “electronic money,” which have other segments of the law devoted to them.

 

Legalization of crypto exchanges and firms

Crypto exchanges companies are those that provide the service of exchanging legal tender into cryptocurrencies and vice versa. Now BaFin considers this activity under the umbrella of financial service.

 

The exchange of cryptocurrencies now falls under the regulated banking and other financial services category.

 

Companies will need to acquire a licence

The development mandates that crypto custodial firms should acquire licenses.

 

Already operating companies, will have to request a licence

For now, unlicensed companies already operating and providing crypto custodial services in Germany will not be penalized. They have until March 30, 2020, to show intent to secure a license. And apply before November 30, 2020.

 

So far, more than 40 banks in Germany have applied for the crypto-custodial license

 

Blockchain law firm, blockchain lawyer, top blockchain lawyers, blockchain, blockchain and lawyers, blockchain smart contracts and lawyers, lawyer blockchain, best blockchain lawyers, blockchain lawyer Spain, Blockhain lawyer Spain. Blockchain attorney. International Blockchain firm. Blockchain Lawyer Europe. Cryptocurrency lawyer.

#blockchainlawyer #blockchaininternationallawyer #cryptocurrency #FerrerBonsomsySanjurjo #bitcoinlawyer #blockchain #blockchainnews

 

Despacho de Abogados Ferrer-Bonsoms & Sanjujo

Ferrer-Bonsoms y Sanjurjo

Ferrer-Bonsoms y Sanjurjo

 

Si tienes problemas, podemos ayudarte, si tienes dudas, podemos ayudarte

Somos abogados expertos en Derecho Mercantil, Derecho Internacional, Derecho Civil, Derecho Bancario

Despacho de Abogados Ferrer-BonSoms & Sanjurjo

  Contacta con nosotros, estas son nuestras oficinas:

Madrid

Calle Antonio Acuña, 9 – 2º izda. 28009 Madrid Teléfono: 910 18 29 46

Barcelona

Calle Buenos Aires, 60 – 1º 1ª 08036 Barcelona Teléfono: 937 07 82 97

Pamplona

Calle Estella, 8 – 1º izda. 31002 Pamplona Teléfono: 948 21 24 14

Sevilla

Av. de Ramón y Cajal, 37 – 5º A 41018 Sevilla Teléfono: 955 18 02 70

Valladolid

Calle José Ribera, 10 47130 Simancas, Valladolid Teléfono: 983 66 01 20

Palma de Mallorca

Via Puig del Castellet 1 blq. 6 lc. 1 07180 Santa Ponsa, Palma de Malorca Teléfono: 971 10 01 28
 
   
FB
FB

Comments are closed.

programa de afiliados agente de compras agencia comercial confidencialidad acuerdos de confidencialidad consultoria contacto proteccion de datos distribucion franquicia exportacion guias de negociacion en paises intermediario contratos internacionales contrato de distribucion internacional contrato de venta internacional empresa conjunta aviso legal servicios de logistica fabricacion negociacion en otros paises guias de negociacion en 70 paises . paquete 10 contratos paquete todos los contratos venta contrato comision de ventas representante de ventas servicios alianza estrategica suministro transferencia de tecnologia marca registrada programa de afiliados agente de compras agencia comercial confidencialidad acuerdos de confidencialidad consultoría contacto protección de datos distribución franquicia exportación guías de negociación en países intermediario contratos internacionales contrato de distribución internacional contrato de venta internacional empresa conjunta aviso legal servicios de logística fabricación negociación en otros países guías de negociación en 70 países . paquete 10 contratos paquete todos los contratos venta contrato comisión de ventas representante de ventas servicios alianza estratégica suministro transferencia de tecnología marca registrada affiliate program buying agent commercial agency confidentiality confidentiality agreements consulting contact data protection distribution expatriate export franchise guías de negociación en países intermediary international contracts international distribution contract international sale contract joint venture legal notice logistics services manufacturing negotiating in other countries negotiation guides in 70 countries pack 10 contracts pack all contracts sale contract sales commision sales representative services strategic alliance supply technology transfer trademark affiliate program   buying agent  commercial agency   confidentiality   confidentiality agreements  consulting   contact   data protection   distribution  expatriate   export   franchise   guías de negociación en países  intermediary   international contracts  international distribution contract   international sale contract   joint venture   legal notice  logistics services  manufacturing negotiating in other countries   negotiation guides in 70 countries   pack 10 contracts  pack all contracts   sale contract  sales commision sales representative services  strategic alliance supply  technology transfer  trademark         

%d bloggers like this: