The new German government opens up to cryptocurrencies and blockchains

The new incoming government in Germany, based on a coalition of Greens, Social Democrats and Liberals, has for the first time put strong topics such as digitization, cryptocurrencies, renewable energy, a united Europe and adoption at the center of its projects. of advanced technologies such as blockchain.

Their 177-page document presented only in German reads: "We support a level playing field with equal conditions of competition within the EU, between traditional and innovative business models and towards large digital companies. We are making the European law on financial market supervision suitable for digitization and complex group structures to ensure holistic and risk-appropriate oversight of new business models.

Holistic, writes the Vocabulary, means "which refers to holism: the holistic interpretation of vital phenomena".

It is therefore necessary to read the definition of holism: "General biological theory derived from vitalism, proposed in the 1920s as opposed to mechanism, according to which the vital manifestations of organisms must be interpreted on the basis of the interrelationships and functional interdependencies between the parts that make up the individual, who as a whole has its own characteristics, not attributable to the sum of its parts ".

We need joint European oversight for the cryptocurrency sector. We require crypto asset service providers to constantly identify beneficial owners. The EU supervisory authority should not only deal with the traditional financial sector, but also prevent the misuse of cryptographic values for money laundering and terrorist financing. "

by Alessandro Crea Monday 29 November 2021 14:00