Germany legalizes digitized securities
Europe's largest economy is looking to pave the way for securities trading on the blockchain. The German word for securities is wertpapieren, or "papers of worth," which may soon be as outdated as nocturnal traders saying they're burning the midnight oil.Per a Reuters report from Wednesday, Merkel's cabinet had passed a new law that will end the requirement to have a paper certificate for sale of a security, overtly looking to advance blockchain trading within the country.German Finance Minister Olaf Scholtz reportedly said, “The paper certificate may be dear to some for nostalgic reasons,....
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The German government has passed new legislation to introduce all-electronic securities as part of the country’s wider blockchain strategy. According to the country’s finance ministry, the new law relaxes rules forcing issuers and holders of securities to document transactions with a paper certificate. Legal Clarity According to a report, the paper certificate can now be “replaced with an entry in a central securities depository or a register kept by private-sector banks.” The report also speculates that this means “an entry in a crypto securities register....
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