Germany legalizes security tokens as part of Blockchain strategy
In a recent article published by Reuters, the Chancellor Angela Merkel’s cabinet was confirmed to have passed new legislation to introduce all-electronic securities as part of its wider blockchain strategy, finance ministry said. The law eases rules that until now had forced issuers and holders of securities to document transactions with a paper certificate.
“The paper certificate may be dear to some for nostalgic reasons, but the future belongs to its electronic version,” Finance Minister Olaf Scholz said, adding that electronic securities cut costs and administrative burdens.
“Blockchain technology has the potential to turn current procedures completely upside down and to fundamentally change the way entire business sectors work,” Achim Berg, head of the IT business association Bitkom said.
