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Germany proposes to launch the state electronic registry for blockchain sector

As reported by Reuters on March 8, the German Ministry of Justice and Finance offered to launch a state registry to expand the use of the blockchain.

According to Reuters, the initial seven-page guidelines suggest creating a registry to regulate the sector and protect investors from potential abuse. It is reported that the document states that regulation in this area can contribute to the development of the technologies that underlie cryptocurrencies, along with strengthening Germany’s position in financial markets.

The guidelines also suggest weakening existing requirements, suggesting that financial instruments should have tangible counterparts that investors can acquire.

Reuters claims that current offers are only for electronic bonds, and digital shares may be added later.

The main executive body of the German government, the German Cabinet of Ministers, recently announced that the country will present its blockchain strategy by mid-2019. The Ministry of Finance and the Ministry of Economy and Energy were called responsible for preparing the guidelines, expecting other relevant ministries to contribute later.

Earlier this year, the second-largest stock exchange in Germany, Boerse Stuttgart Group, officially launched its crypto-trading application Bison, which allows you to trade BTC, ETH, LTC and XRP for free. Currently, the application is available only to German users. However, by the end of 2019, the exchange plans to extend its services to all EU countries.

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