The FinTech Council of the German Federal Ministry of Finance considers a referral of the Federal Government with the Blockchain regulation overdue. In an opinion on the blockchain strategy of the Federal Government is present, the experts demand a regulation by eye. It is important to understand the enormous potential of the technology without neglecting the very real risks. And that’s better yesterday than tomorrow.
It is provoking something in the German blockchain regulatory landscape. The Federal Ministry for Economic Affairs and Energy (BMWi) has concluded a public consultation with the Federal Ministry of Finance (BMF) on the development of a blockchain strategy. Between February 20 and March 29, associations, companies and organizations had time to share their positions and recommendations with ministries.
Among other things, the FinTechRat of the German Federal Ministry of Finance participated in the survey, for which www.blockchain-strategie.de has its own homepage. On 19 pages, the panel of experts made it clear why the development of a coherent blockchain strategy was long overdue. In addition to representatives of the classic financial world and the fintech industry, FinTechRat also includes well-known blockchain experts such as Prof. Dr. med. Philipp Sandner, head of the Frankfurt School Blockchain Center.