Bitcoin, Crypto currency, Blockchain

Bitcoin regulation: Newfoundland open letter to the Bundestag

58b21a17faa7d7cf8033dcfea4a321e7 - Bitcoin regulation: Newfoundland open letter to the Bundestag

The legal situation around Bitcoin, Blockchain and crypto-currencies is not clarified in Germany. In principle, even unexplained than before, because Recently, the Berlin court of appeal published a judgment in which it said the existing provisions by the BaFin, null and void. Now Newfoundland responded with an open letter to the German Bundestag.

Bitcoin, regulation and the Federal Republic of Germany do not want to find together. First, the German financial Supervisory authority has not defined BaFin crypto-currencies such as Bitcoin as a unit of account, accepted it as currency. This was placed in the Distant of the ground for a possible regulation. However, Recently, the Berlin court of appeal explained the definitions of BaFin for not legally. The definitions of the BaFin not be permitted, in addition, the BaFin had exceeded their jurisdiction. Thus, the Bitcoin was trading theoretically liable to prosecution. (More on this here.)

Court of control is guilty of

The chamber court of Berlin remained a clear set of rules, however, also guilty. Although acquitted the former operator of a Bitcoin exchange, but provided no precise Definition. Since then, the regulation of Bitcoin & co. moves in a floating state. Now, the German Blockchain Community comes together to Protest. Only on Wednesday, the 25. October, we reported on the Bitcoin Demo at the Brandenburg gate, at the Bitwala on the legal situation around crypto-currencies to the attention of wanted to make.

Germany should not miss the technological Revolution

However, Zoe Adamovicz reports on behalf of to word. In an open letter on Medium, she calls on the German Bundestag to finally bring some order to the Bitcoin regulatory Chaos. So she calls on the Bundestag to create regulatory certainty. Their Main Demands:

  • Those members of the Bundestag, which recognize the Potential of the Blockchain, should Express their views in the Form of columns, Interviews or Twitter Posts.
  • The Bundestag is supposed to prepare a public political Statement, the guidelines for Supervisory authorities concerning regulation.
  • The Bundestag is to bring new regulatory approaches in the area of Blockchain on the way.

The only way Germany could prevent to miss to the Internet, now the next technological Revolution. Rather, the Federal government should be to neighboring countries, such as France Orient:

“The Regulatory certainty must be guaranteed, otherwise we will jeopardise the flourishing Blockchain Ecosystem in Germany. It is unacceptable that young entrepreneurs be prosecuted, because the Supervisory authority has no clear regulation. We must not allow valuable Blockchain-companies are always a collateral damage for the bad actors in the scene.“

A response by the Federal government is so far.

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