Let’s Build a Crypto Custodian (Part II) – How Much Regulatory Starting Capital Does a Crypto Custodian Require?
As of the first of January 2020, crypto custodian services will be regulated as a new financial service in Germany. The safekeeping of cryptocurrencies and crypto tokens for customers on a commercial extent will at that point in time require a prior authorization by BaFin. The new financial service touches on a core issue of […]
Starting Capital and Equity for Blockchain Startups – How Much must be shown to BaFin?
Operating a business model in Germany that is based on or related to cryptocurrencies requires a BaFin authorization in most cases. BaFin qualifies Bitcoin and comparable cryptocurrencies as units of account already since 2011 and as of 2020 crypto assets will be legally classified as financial instruments in the German Banking Act (KWG). Moreover, BaFin […]
