Germany looking at ICO regulations to support crypto industry

German Ministry of Finance working in collaboration with the Federal Ministry of Justice and Consumer Protection has produced research study that addresses various issues faced by the electronic securities and the need for cryptocurrency initial coin offering regulations.

The paper made reference to a March 12, 2019, agreement to utilize the opportunity to make the financial backbone of the country strong through financial technology.

The study focuses on the need to leverage blockchain distributed ledger technology in order to provide relief to the securities. On the other hand, it also proposes a change in current regulations to better govern electronic securities.

On the other hand, the study also discusses the various problems with ICOs including the issues that there is no hard regulation present to classify the offerings as a controllable financial activity.

The paper discusses the modified system, to shift the focus on to the individual ICO investor and protecting its assets.

Earlier this year, a meeting consisting of German government officials and experts in blockchain knowledge took place in February 2019. The meeting focused on the future of the country in cryptocurrency’s world and the strategic actions need to be taken to achieve maximum benefits.