Germany Legalizes Digitized Securities
Europe’s largest economy seeks to pave the way for blockchain stock trading.
The German word for securities is wertpapieren, or „value papers,“ which will soon be as outdated as the night traders who say they are burning the midnight oil.
According to a Reuters report Wednesday, Merkel’s cabinet approved a new law that will end the requirement to have a paper certificate for the sale of a security, openly seeking to advance Bitcoin Legacy trading within the country.
German Finance Minister Olaf Scholtz said, „The paper certificate may be expensive for some for nostalgic reasons, but the future belongs to its electronic version. The Finance Ministry described the move to fully electronic securities as a component of its broader strategy to adopt Blockchain technology.
While the German Ministry of Finance and BaFin, its financial watchdog, are some of the most assertive in Europe, the country is at the forefront of value token adoption among major economies. Börse Stuttgart is known to be working on the integration of value tokens, while BaFin has supported platforms such as Black Manta.