China is the first nation that issued a digital version of its national currency. Will the Crypto Renminbi play a role in business transactions between Chinese and western companies and what is actually known about the crypto version of China’s Renminbi?
Even though transactions of cryptocurrencies generally do not require intermediaries for processing, the crypto market has seen some service providers assisting their customers with crypto payment transactions. Can these services be subject to authorization with regards to the German Payment Services Act (ZAG)?
Last week, the German Parliament finally decided on how to regulate crypto custodians as of 2020. In the first part of our blog series “Let´s build a Crypto Custodian” we take a look at the requirements that managing directors of crypto custody service providers will have to fulfil in order to be accepted by BaFin.
Can e-money be issued on a blockchain? And is it possible that in individual cases, blockchain coins or tokens must be qualified as e-money in the sense of the European E-Money directive 2009/110/EC? A topic rarely discussed so far but with great potential for disruptive payment business models.