According to Bitkom, the fact that "non-physical" or digital
Posted: Sun Feb 02, 2025 7:16 am
The association also supports the goal of technology neutrality in the draft law. In addition to central registers, decentralized registers for electronic securities based on distributed ledger technology (DLT) should also be made possible.
At the same time, Bitkom criticizes the fact that the crypto custodians, which were only recently introduced by law, should not be authorized to hold crypto securities. "This restriction is a hard blow for the young crypto custody industry," says Hansen. lebanon gambling data "Crypto custodians should also be allowed to hold crypto securities - if necessary under appropriate conditions." Overall, there is now a need for a clearer demarcation of the roles of crypto custodians, crypto securities registrars, depository banks and central securities depositories, as otherwise there is a risk of legal uncertainty in some areas.
In addition, Bitkom believes that the potential of blockchain technology has not yet been fully exploited in the current draft law. There are a number of unresolved questions and hurdles for a completely decentralized representation of securities via public blockchains (public permissionless blockchains). In addition, decentralized trading of these crypto securities is not yet possible due to European regulation. Bitkom believes that the federal government should take action here as part of its current EU Council Presidency.
At the same time, Bitkom criticizes the fact that the crypto custodians, which were only recently introduced by law, should not be authorized to hold crypto securities. "This restriction is a hard blow for the young crypto custody industry," says Hansen. lebanon gambling data "Crypto custodians should also be allowed to hold crypto securities - if necessary under appropriate conditions." Overall, there is now a need for a clearer demarcation of the roles of crypto custodians, crypto securities registrars, depository banks and central securities depositories, as otherwise there is a risk of legal uncertainty in some areas.
In addition, Bitkom believes that the potential of blockchain technology has not yet been fully exploited in the current draft law. There are a number of unresolved questions and hurdles for a completely decentralized representation of securities via public blockchains (public permissionless blockchains). In addition, decentralized trading of these crypto securities is not yet possible due to European regulation. Bitkom believes that the federal government should take action here as part of its current EU Council Presidency.