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?
The obligation to obtain an authorization pursuant to German regulatory banking law requires that the service provider actively targets the German market. Can BaFin therefore demand from service providers from other EU member states to implement geoblocking measurements?
The current regulation of the financial markets is carried out by supervising professional market participants. Can this regulatory approach ensure the effectiveness of the financial market regulation in times when decentralized markets without operators are on the rise?
Business models with regards to crypto assets often trigger authorization obligations in accordance with German supervisory law for the providers. But at what point are foreign providers obligated to obtain authorization?