New Capital Market Law Includes Positive Crypto Impulses
The German government wants to prepare the domestic financial sector for the future.
The German government wants to prepare the domestic financial sector for the future. Crypto and blockchain also play a role here. On June 29, Finance Minister Christian Lindner and Justice Minister Marco Buschmann presented the plan for a future financing act. The ministries of the two FDP politicians worked together on the proposal, which could also have positive effects for the German crypto industry.
The legislative package mainly aims to simplify access to the securities market for both individuals and businesses. "We want to make Germany the leading hub for start-ups and growing companies," the FAZ quoted the finance minister as saying. According to Lindner, the upcoming digital transformation of the economy and climate-change management can only be managed with sufficient private capital.
Digitalization of the capital market is on the agenda
The Future Financing Act is to be completed next year and can be passed right away. The law would then come into force in 2023. The core idea, however, was already laid out in the coalition agreement.
A core pillar of the legislative initiative is the digital transformation of shareholding companies. Lindner and Buschmann pledged, for example, an extension of the Digital Securities Act and the removal of the paper requirement for documenting securities transactions. This measure has been a real barrier to digitalization. A move that will certainly influence the crypto space.
