What's new

Crypto companies in Germany will need BaFin license

mlawson71

Well-Known Member
All crypto businesses in Germany will have to acquire a Federal Financial Supervisory Authority (BaFin) license starting from 2020. The new rules are in connection with the Anti Money Laundering (AML) regulations that soon will come into force in the Federal Republic.

Brokers that offer crypto CFDs however will not be required to get such a special license, although all crypto derivatives fall under the current regulations as outlined by the European Securities and Markets Authority (ESMA).

The new BaFin rules will oblige all crypto currency businesses like crypto exchanges and crypto wallet providers to be licensed by BaFin and to comply with AML regulations. This is happening because as of January 2020 all crypto assets in Germany will be considered financial instruments.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Similar threads

Users Who Are Viewing This Thread (Total: 1, Members: 0, Guests: 1)

Top
AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock    No Thanks