Germany creates legal framework for regulation of cryptocurrency business
The new German government signed a coalition agreement that highlighted the need to change the approach to the development of the cryptocurrency sector.
This week, three political parties in Germany agreed to sign a coalition agreement in which the left-wing Social Democrats, the Green Party and the friendly right-wing Democrats will take control of the country from December this year. According to the document, the coalition is calling for a change in the "dynamics regarding the opportunities and risks associated with financial innovation" related to cryptocurrency assets.
“We are creating a European law on financial market supervision and for complex group structures to ensure a holistic and adequate oversight of new business models. We need a European oversight body for the cryptocurrency sector. We require service providers to consistently identify beneficial owners, ”the agreement says. To know more visit our trading platform
