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?

New Crypto Asset Transfer Regulation – Germany Tackles Implementation of FATF Travel Rule
31. May 2021
Last week, the Federal Ministry of Finance made a proposal for the transposition of the FATF Travel Rule with the draft of a Crypto Asset Transfer Regulation. What are the possible implications for the German crypto industry?

Tokenized Debenture Bonds and Deposit Business - What must STO Issuers Observe during the Planning Process?
24. May 2021
Issuers of security tokens take the risk of unintentionally operating deposit business when offering their tokens, which mandatorily requires a banking license. How can this risk be mitigated?

The Dream of Tokenized Property – Is That Legally Possible?
17. May 2021
The tokenization of property rights of specific objects has been fascinating the crypto industry ever since. But is this legally realizable?

Dispute over Stock Tokens – Transferable Security or unregulated Blockchain Tokens?
10. May 2021
With stock tokens, the crypto industry offers the next innovation that is designed to disrupt the traditional capital markets. But are stock tokens really not subject to the current regulation?

Investment Firms Act (WpIG) Passed the Bundestag – What Are the Implications for the Crypto Industry?
26. April 2021
The newly introduced Investment Firms Act (WpIG) is intended to simplify matters for financial service providers with regards to the supervision in the future. What effects does the new regulatory regime have for crypto-related business models?

Do dPoS Staking Providers Require Authorization in Germany?
19. April 2021
The offering of dPoS staking infrastructures is a rising business model within the blockchain community. Are providers in Germany subject to an authorization requirement pursuant to the German Banking Act?

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