NFT Regulation in Germany
On March 8, the BaFin Journal of the German Federal Financial Supervisory Authority (BaFin) reported that in the regulatory review of NFT, the BaFin process is…
On March 8, the BaFin Journal of the German Federal Financial Supervisory Authority (BaFin) reported that in the regulatory review of NFT, the BaFin process is the same as the review of alternative tokens. So far, NFT has not been classified as securities in the regulatory sense, but it is not ruled out that NFT will be classified as securities in the future. For example, this may happen if 1000 NFTs contain the same repayment and interest requirements. In addition, NFT may be subject to anti-money laundering supervision by BaFin. （BaFinJournal）
German Federal Financial Supervisory Authority: In the regulatory sense, NFT has not been classified as securities
Analysis based on this information:
The BaFin Journal of the German Federal Financial Supervisory Authority (BaFin) has reported that the regulatory review of non-fungible tokens (NFTs) follows the same process as that of alternative tokens. Currently, NFTs have not been regulated as securities, but BaFin has not ruled out the possibility of classifying them as such in the future. This could happen if multiple NFTs represent the same repayment and interest requirements.
BaFin’s stance on regulating NFTs aligns with its current approach to alternative tokens, which are not subject to securities regulations unless they meet specific criteria. However, NFTs could potentially fall under securities regulations if they meet similar criteria in the future.
Moreover, BaFin has also stated that NFTs may be subject to anti-money laundering (AML) supervision. This means that if an NFT poses a high risk of facilitating money laundering or terrorist financing, BaFin could require its issuer or owner to comply with AML regulations.
The statement from BaFin highlights the need for regulatory clarity in the emerging NFT market. As NFTs are a relatively new concept, there is still much uncertainty surrounding their classification and regulation. However, BaFin’s assertion that NFTs will be reviewed in the same manner as alternative tokens provides some guidance to potential issuers and investors.
In conclusion, BaFin’s report indicates that NFTs are not currently classified as securities in Germany. However, this could change in the future if certain criteria are met. Additionally, NFTs may be subject to AML supervision if they pose a high risk of facilitating financial crime. The regulatory review process for NFTs aligns with that of alternative tokens, but further clarity and guidance will be needed as the market evolves.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/9054/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
#NFT Inscriptions on the Bitcoin NFT Protocol Ordinals: Trends and Implications
According to reports, the latest data from Dune Analytics shows that the cumulative number of NFTs with inscriptions on the Bitcoin NFT protocol Ordinals has exceeded 900000, reach
-
Cryptocurrency ATMs: Growing Trends in Asia and Australia
According to reports, according to Coin ATM Radar data, there are currently 355 encryption machines in Asia, accounting for 1% of the total number of encryption ATMs installed worl
-
#The Emergence of Cryptocurrency Platforms and the Web 3.0 Ecosystem
According to reports, Liang Fengyi, CEO of the Hong Kong Securities Regulatory Commission, stated during the Q&A session after the \”ESG Investment: How to Achieve Stability and Lon
-
OKX Plugin Wallet Now Supports Viewing and Transferring Ordinal NFTs
According to reports, OKX Chinese tweets that the plugin wallet currently supports viewing and transferring Ordinal NFTs, and the mobile end is expected to be launched this week. I
-
BTC Market Cap Reaches 3-Month High of $385.7 Billion
On March 25th, according to Glassnode data, BTC has achieved a market capitalization of $385.7 billion, a 3-month high.
BTC has achieved a market capitalization of $385.7 billion, -
OKBChain Test Network Launch Scheduled Soon: Xu Mingxing
On March 20th, Xu Mingxing replied to users\’ questions on social media and said that the OKBChain test network would be launched soon, and the planned release in the first quarter
-
Silvergate Digital Currency Financial Service Company in Peril
It is reported that Silvergate, a digital currency financial service company, plunged 35% before the market on Thursday. The company had previously warned that…
-
Web3 Collaboration Platform Dmail Integrates ChatGPT to Launch AI Mail Assistant Service
On February 24, the Web3 collaboration platform Dmail announced its integration with ChatGPT and launched the AI mail assistant service, officially entering th…
-
Fund II of Race Capital Raises $181 Million in Oversubscription
According to reports, Fund II, the second fund of Race Capital, received an oversubscription of $181 million. It is reported that the fund has made 10 investments, including a mach
-
BCB Group Suspends US Dollar Payment Plan Following Signature Bank Closure
It is reported that BCB Group, a London-based crypto financial services company, suspended a planned US dollar payment plan after the regulator closed Signature Bank earlier today. Cryptographic company BCB Group suspended the US dollar payment pilot plan due to the closure of Signature Bank Analysis based on this information:The news that BCB Group, a London-based crypto financial services company, has suspended its planned US dollar payment plan following the closure of Signature Bank has sent ripples across the crypto industry. The decision to halt the payment plan has raised concerns about regulatory actions in the crypto sector. BCB Group had previously announced plans to enable its clients to make US dollar payments using the Paxos stablecoin. The company had partnered with Signature Bank, which would have provided custody services for US dollar deposits, to offer the payment plan. However, the plan has been put on hold after Signature Bank was closed by the New York State Department of Financial…
-
When will digital chain coins go on sale (digital currency, blockchain)?
When will digital chain coins go on sale? Digital chain coins are tokens of the
-
Dune Announces the Discontinuation of SparkSQL and PostgreSQL
On April 21st, it was announced that the blockchain analysis platform Dune has released a schedule for the discontinuation of SparkSQL and PostgreSQL. It will be removed from the d
-
Ethereum Gas Fee: What It Is and Why It’s Surging
According to reports, according to ultra sound. money data, the current Ethereum Gas fee has risen to around 53GWei, soaring 165% in 10 minutes, indicating an increase in ETH chain
-
#FTX Group Scandal: Alameda Accused of Stealing Encrypted Assets
On April 10th, according to a report released by FTX creditors, on July 31, 2019, former FTX engineering director Nishad Singh changed the code base to allow Alameda to extract an
-
Maker Protocol Adjusts Clearing Parameters for CRVV1ETHSTETH-A
On March 9, it was reported that a new executive vote was being held on the Maker governance portal. If the implementation proposal is approved, the clearing p…
-
Devconnect: A Powerful Platform For Ethereum Community Building
On April 20, it was reported that the Ethereum Foundation said that it planned to hold the Devconnect conference in Istanbul, Türkiye, from November 13 to 19 this year, which would