2 March 2020: Today, the BaFin published eagerly awaited information on digital assets custody business. Content I. General facts of the digital assets custody business 1. Digital Assets or private keys 2. For others 3. Safekeeping, administration, and security II Demarcation from other regulated activities III. Authorization requirement for the…
Read MoreA new German law on regulation requires every entity that holds private keys for others (e.g., bitcoin exchanges and/or bitcoin custodians) and that actively addresses the German market must become licensed as early as January 1, 2020. And to address the most common misconception right at the beginning: No, it…
Read MoreAs BitGo announced on February 10, it will now offer custody services from Germany and Switzerland with two new units. The company based in Palo Alto, California, has been successfully offering services in the field of cryptocurrencies and the secure storage of digital assets since 2013. With the founding of…
Read MoreAs the German Handelsblatt reports, the law has triggered a run on the license among German banks. As Handelsblatt writes, the German Federal Financial Supervisory Authority (BaFin) has already received more than 40 expressions of interest from banks for a German crypto-custody license. As a result of the Fifth EU…
Read MoreOn January 1, 2020, a German law will come into force that makes digital asset custodians subject to financial supervision. Companies that want to provide this business then need a license from the German Federal Financial Supervisory Authority (BaFin). Any crypto custodian addresses to German customers, must notify BaFin of…
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