Tag Archives: Regulatory law

German criminal court defies regulatory practice of the financial regulator (BaFin) ruling that Bitcoins are not financial instruments

By Dr. Andreas Splittgerber, Dr. Simon G. Grieser and Jane Grinblat on 25 October 2018 Posted in FinTech Trends, Regulatory Compliance

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 (Kreditwesengesetz, “KWG”). The practical consequence of this is that most commercial services surrounding Bitcoins and other cryptocurrencies (including trading, brokerage, operating exchanges, investment … Continue Reading