Revocation Right and Security Token Offering – What Must Be Observed by Issuers and Providers
20. September 2021
Is there a legal right of revocation in Security Token Offerings? What must be observed by issuers and providers in this context and what may be the legal consequences in case of unfulfilled obligations?

Crypto Fund Shares Shall come – What is the KryptoFAV about?
13. September 2021
Last week, the Federal Ministry of Finance published its draft for a new Crypto Funds Shares Regulation (KryptoFAV). How will crypto fund shares be legally designed according to the ministries publication and what are the possibilities for investment funds arising from it?

EU Commission Tackles the Implementation of the FATF Travel Rule
06. September 2021
The EU commission intends the implementation of no less than four regulatory measurements to the European Anti-Money-Laundering regulation. In the process it will also tackle the implementation of the FATF Travel Rule.

Preliminary Authorization for Operators of a Crypto Security Registry – What are the Requirements?
30. August 2021
As it has already been the case for crypto custody service providers, the German Banking Act provides for a preliminary authorization for operators of crypto security registries. But what are the requirements that must be fulfilled by operators intending to use this option and even more importantly – until when?

Good-bye to Virtual Currencies – The New EU Anti-Money-Laundering Regulation will regulate Crypto Assets
23. August 2021
The draft version of the new Anti-Money-Laundering Regulation of the EU Commission does not refer to the definition of virtual currencies anymore that had just been introduced with the fifth Anti-Money-Laundering Directive and will instead regulate crypto assets.

Operating Crypto Security Registers – Who is Addressee of the Authorization Requirement?
16. August 2021
The new financial service of crypto security registry management has been introduced on the 10th of June 2021 in Germany. But who exactly is obligated to obtain this authorization?

Crypto Securities vs. Security Tokens – What is the Difference and what are the Advantages and Disadvantages?
05. July 2021
Since the introduction of the eWPG in Germany, businesses have the option to issue crypto securities. At the same time, the issuance of security tokens remains possible. How do the two variants differ from each other?

Delegated Staking as Crypto Management – BaFin Assumes Authorization Requirement in Certain Constellations
21. June 2021
BaFin often qualifies the services of providers of delegated staking solutions as a crypto custody business in the form of crypto management which requires authorization. What are the options for providers to circumvent the obligation to obtain authorization?

Bitcoin as Legal Tender in El Salvador – Massive Implications for German Crypto Regulation?
14. June 2021
Last week, El Salvador made a historic move and declared Bitcoin a legal tender. This action might cause considerable turmoil in German and European crypto regulation.

Crypto Custody Services provided by Investment Firms – Will that still be Possible in the Future?
07. June 2021
The new Investment Firms Act (WpIG) creates a new supervisory regime for investment firms that shall no longer be be regulated under the provisions of the KWG in the future, according to BaFin’s legal interpretation. Will investment firms still be eligible for an authorization to offer crypto custody services which continue to be regulated under the KWG?

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