BTC Wires

Is Germany Going To Allow Blockchain Bonds?

According to reports by local daily business news outlet Handelsblatt on May 9, Germany has plans to introduce draft regulations that will allow blockchain bonds as early as this summer.

The publication revealed that the new legislation has already gained a lot of mainstream momentum and as of yet has a summary paper in existence, according to the ruling coalition government’s dedicated blockchain correspondent, Thomas Heilmann.

Heilmann is of the opinion that it is both necessary and advantageous for Germany to embrace blockchain along with supportive regulation.

Handelsblatt quoted Heilmann saying, “we consider it to be of paramount importance that we bring blockchain technology forward for Germany, specifically in 2019.”.

Germany has always taken a very conservative stance on blockchain as well as cryptocurrency, with the country showing itself to be rather wary of bitcoin (BTC) and other tokens in particular.

This situation is gradually starting to change, as the authorities become more and more aware of evolving and upcoming trends.

The current legal changes are based on the idea of tokenizing processes that are currently being done on paper and at the same time, preserving blockchain token legality would prevent issues arising from them failing to make progress in a regulatory gray area.

According to sources, “The ruling coalition in Germany is actively seeking to end the inertia surrounding digital token regulation”

The blockchain expert for Germany’s Free Democratic Party, Frank Schaeffler states, “The national government has finally woken up,”. He also adds:

“Now things need to move fast. Crypto issuers and investors are looking for a regulated financial marketplace for their activities which we can present on the international stage. Germany has the chance to adopt a key position here.”

Last month, nearby Liechtenstein  rolled out blockchain bonds for the real estate sector and this week, the country passed new regulations that are concerned with tokenization and blockchain regulation.