German ICO operators urged to fulfil legal requirements

Europe Germany

Increase in the number of queries about the legal status of ICOs has forced Germany’s Federal Financial Supervisory Authority (BaFin) to clarify their obligations for Initial Coin Offerings.

According to the regulator’s note, ICO operators “are required to check exactly whether a regulated instrument, [such as] a financial instrument… or a security is being dealt with, in order to fulfil potential legal requirements without any gaps,” pointing to a case-by-case examination as the government’s preferred approach to ICOs.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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