Does the Bitcoin decision of the Chamber Court Berlin bring legal (un-)certainty?
New regulatory debate on the qualification of crypto assets
Article published in "DAS INVESTMENT" | 16 November 2018
The Chamber Court Berlin decided that Bitcoins do not qualify as financial instruments. However, this verdict is contrary to the view of the regulatory authority BaFin which qualifies Bitcoins as financial instrument. In his guest article published in “DAS INVESTMENT”, attorney Dr. Osman Sacarcelik explains the potential impacts of this court decision.
The Chamber Court Berlin negates the qualification of Bitcoin as financial instrument. This contradicts to the view of the regulator BaFin. Even if the criminal verdict does not create a binding effect on the administration, the pressure on the German law maker to create clear rules for the regulation of Bitcoin and other crypto assets will increase.
You may read the article in German language here: DAS INVESTMENT: "Das Krypto-Sommermärchen ist vorbei"
Financial instrument definition as gateway to supervision using crypto currencies, initial coin offerings and customer loyalty programs as examples
Article published in: Recht der Finanzinstrumente | 3.2018 | 10.9.2018