Many STO issuers would like that their security token gets listed at a crypto exchange after the token sale is over. What are possible legal consequences of a security token listing and are there consequential obligations for the emitters?
Traditionally securities are stored and managed by authorized securities depository banks in Germany. How can security tokens that are legally designed as securities be stored and managed in the future and what are the consequences of the upcoming legislative changes of the German Banking Act for securities depository banks?
BaFin generally qualifies security tokens as securities sui generis. Does that exclude the possibility of designing security tokens as asset investments under the German Asset Investments Act and if not, what are the advantages of crypto based asset investments for the issuer and distributers?
By regulating crypto custodian services as a financial service, the German legislator chooses a non-european but national regulatory approach. But will this national crypto custodian license potentially be vaild in other european countries as well?
The German federal government plans to design crypto custody services as exclusive financial services. In addition to the custody of crypto assets, the crypto custody service providers shall not be permitted to offer any other financial or banking service that would also require a BaFin authorization. Crypto custody service providers shall therefore be limited to their core business but shall also play a central role in the German crypto market.
The German legislator plans to regulate crypto assets as financial instruments. But what would be the consequences of such regulation and would there be any important changes to the current regulation of crypto?