The ministries of justice and finance in Germany are planning to create a new registration system to contribute to the development of the local Blockchain sector.
According to Reuters, the ministries in Germany are planning to take a new step to accelerate the development of Blockchain technology and to protect investors in the country. These two ministries, who want to organize the sector, believe that the development of Blockchain may be beneficial for Germany.
The ministries of justice and finance are preparing new regulations for the sector as well as planning to make some changes to existing regulations. The purpose of these changes is mainly to facilitate the work of Blockchain companies.
The ministries, which want to protect investors and prevent possible fraud cases in the sector, are also planning to prepare some regulations in this regard. However, authorities are only interested in electronic bonds. According to Reuters, these arrangements may be changed later to include digital shares.
The Federal Government of Germany had recently stated that it wanted to prepare its Blockchain strategy in mid-2019. The Federal Government blames the Ministry of Finance and the Ministry of Economic Relations and Energy for these regulations.
These two ministries began to work in the middle of February, particularly with respect to the Blockchain and the crypto-money sector. The focus of the ministry officials is to ensure the security of investors who buy Blockchain-based digital bonds. To do this, the authorities are only planning to invest in institutional investors. However, for the moment, the two ministries have not made a definite statement.
Omer SAKMAR, a new system for the Blockchain Sector in Germany, was prepared by Ömer SAKMAR.