Share this article
BTC
$77,304.58
-
1.45%ETH
$1,491.64
-
2.58%USDT
$0.9992
-
0.04%XRP
$1.8396
-
3.42%BNB
$561.89
+
0.42%USDC
$1.0001
+
0.02%SOL
$106.80
-
0.30%TRX
$0.2304
-
2.05%DOGE
$0.1466
-
2.69%ADA
$0.5719
-
3.37%LEO
$9.1577
+
1.70%TON
$3.0331
-
0.61%LINK
$11.41
-
0.05%AVAX
$16.88
-
1.51%XLM
$0.2214
-
4.80%SHIB
$0.0₄1108
-
0.90%SUI
$1.9687
-
1.85%HBAR
$0.1497
-
5.71%OM
$6.3212
+
1.35%BCH
$274.60
-
1.80%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Germany Legalizes Electronic Securities on the Blockchain
Angela Merkel's cabinet passed new legislation on Wednesday removing the requirement to have paper-based securities and allowing blockchain to be used instead.
The German government cabinet passed new legislation on Wednesday allowing all-electronic securities to be recorded using blockchain technology.
STORY CONTINUES BELOW
- The new law does away with the previous requirement for a paper-based certificate and comes as part of the nation's blockchain strategy blockchain, according to a Reuters report citing the German finance ministry.
- Previously, issuers and securities holders had to document transactions with a paper certificate, which added administrative burdens and was seen as an obstacle for security holders, the report says.
- “The paper certificate may be dear to some for nostalgic reasons, but the future belongs to its electronic version,” said German Finance Minister Olaf Scholz.
- The ministry recommended last year that the country recognize and regulate blockchain-based securities as a legitimate form of financial instruments.
See also: One of the World’s Oldest Banks Is Issuing a Euro Stablecoin on Stellar
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
