New German government cites crypto in coalition agreement

Posted by Brian Quarmby,

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The new German government has cited crypto in its coalition agreement, advocating for an equal playing field between traditional finance and “innovative business models.”

Three German political parties agreed to a coalition deal this week that will see left-leaning Social Democrats (SDP), the Green Party and the right-friendly Free Democrats take the reins from December this year.

According to a rough translation of the 177-page agreement published on Wednesday, the coalition calls for a new “dynamic in relation to the opportunities and risks from new financial innovations,” such as crypto assets and blockchain businesses:

“We are making European financial market supervisory law fit for digitization and for complex group structures in order to ensure holistic and risk-adequate supervision of new business models.”…read more.