116 results found

German financial regulatory authority BaFin published further guidance on its view around tokens and crypto-currencies used to structure Initial Coins offerings (German version available here).

When the new Fund Location Act (Fondsstandortgesetz) comes into effect on 1 July 2021, domestic special funds (Spezialfonds)...

Die Europäische Bankenaufsichtsbehörde (EBA) und das Europäische System der Zentralbanken (ESCB) haben ihre Antworten zum MiCAR-Review vorgelegt – mit teils unterschiedlichen Positionen zu Stablecoin-Reserven, Signifikanzkriterien und globalen Multi-Issuer-Modellen. Der neue EU RegCORE Client Alert analysiert die divergierenden Standpunkte und zeigt auf, welche Vorbereitungen Banken, Stablecoin-Emittenten, CASPs, Asset Manager und Marktinfrastrukturen jetzt treffen sollten.

The Transposition Act for the Second EU Directive on Payment Services (PSD2) has been in force since January 13, 2018

Die Tokenisierung von Anleihen markiert nur den Beginn einer umfassenderen digitalen Transformation im Verbriefungsprozess. Während technische Lösungen bereits existieren, bleiben fundamentale rechtliche Fragen zu Forderungsübertragung, Insolvenzfestigkeit und Anlegerrechten ungeklärt. Wie greifen das deutsche eWpG, Pontes und die vorgeschlagenen EU-Reformen ineinander, und welche Schritte können Originatoren, Arrangeure und Investoren bereits heute digital umsetzen?

In its September 25, 2018 judgement, the 4th Criminal Division of Berlin Court of Appeal ruled that Bitcoin trading is not punishable because Bitcoins are not a financial instrument within the meaning of the Banking Act.

The European Banking Authority (EBA) and more recently its sister European Supervisory Authorities (ESAs)

The German regulatory practice has been to treat bitcoin as a unit of account and thus a financial instrument.

The German Federal Fiscal Court [Bundesfinanzhof, BFH] has published the first ruling on the taxation of virtual currencies. With its decision of 14 February 2023, it clarifies that capital gains...

The EU Commission adopted as a result of its FinTech Action Plan, the European Crowdfunding Services Providers Regulation (ECSPR 2020/1503) on 20th October 2020.

Transactions in Bitcoin do not constitute a bank transaction and certainly such transactions are not a criminal offence.

Schalast hat die LUKSO Blockchain GmbH („LUKSO") bei der erfolgreichen Durchführung ihres Reversable Initial Coin Offering, der weltweit ersten blockchain-basierten Transaktion dieser Art, umfassend beraten.

On January 13, 2018, the Second Payment Services Directive (PSD2) will enter into force, which also introduces higher security standards for online payments.

nxtAssets GmbH is expanding the investment universe by launching its first physically-backed exchange-traded products (ETPs) on Bitcoin and Ethereum.

The following represents a carefully curated selection of our recent Thought Leadership contributions:

On July 20, 2019 the German tax court for the federal states of Berlin and Brandenburg published the first decision of a German tax court on the qualification of "bitcoins" in a provisional legal protection procedure.

Unlike in most other European jurisdictions the regulatory practice in Germany has been to treat Bitcoins as units of account and as such financial instruments pursuant to Section 1 German Banking Act.