Here is the past week about crypto and blockchain headline in review, as originally reported by Cointelegraph auf Deutsch .
The German-speaking world gets experienced another week chock-full of exciting developments in the crypto industry, with Liechtenstein lending the new Blockchain Act, Iota Foundation joining the American climate research community and thus Germany taking a firm am against stablecoins.
Liechtenstein approves fresh Blockchain Act
On Oct. 3, this Parliament of Liechtenstein approved the Token and TT Service Provider Act, aka the Blockchain Act, what kind aims to improve investor security, combat money laundering and as a consequence establish clarity. The new law will make Liechtenstein the first uk to have comprehensive regulation of that token economy. Liechtenstein’s Avantage Minister Adrian Hasler talked about:
“With the TVTG an essential component the financial center routine of the government is carried out and Liechtenstein is positioned as an innovative and legally procure location for providers within token economy. ”
Iota participates in European Union climate research local community
On September. 30 Cointelegraph auf Deutsch announced that the Iota Foundation has joined this EIT Climate KIC medical studies community of the EU-funded Locations Institute for Technology (EIT). In addition to research institutions such as TU Berlin and the TH Munich, the EIT Temp KIC includes several other firms and think tanks across Germany. Together the companies hope to develop new products and products in relation to important climate elements and problems.
Germany: Stablecoins should not become an alternative to the Euro
The German lawmakers televised a desire to prevent stablecoins such as Facebook’s planned Libra coin “as an alternative to the legal tender established” on Oct. 2, think about that:
“Banknotes issued by the Around Central Bank and country central banks are the only banknotes that are legal tender in the Currency area. From the point of view of the Federal Government, it will be necessary to ensure that “stablecoins” do not establish themselves instead of9124 the legal currency, thus calling the existing monetary unit into question. “
As of Sept. 17, German Vice Chancellor and Finance Minister Olaf Scholz said during a panel discussion in Bundeshauptstadt that Facebook’s planned crypto coin Libra will be approach rejected, adding:
“We cannot embrace a parallel currency. … You have to deny that clearly. ”
Finance Minister Scholz wants digital Dinar
As of July. 3, Scholz was advocating the idea of launching an electronic digital Euro coin. The German language finance minister stated that such a digital payment system is usually beneficial for Europe and added that they “should not provide the field to China, The ussr, the US or any private firms. ”
Nonetheless, Mario Draghi, president during the European Central Bank, a short time ago being said that stablecoins and cryptocurrency in general could be of little value, attaining:
“Thus far, stablecoins and crypto-assets have had limited implications in these areas and are not designed in ways that make them suitable substitutes for money. ”
Savedroid: Takeover sends crypto-fintech to the stock market
On Oct. 7, Cointelegraph auf Deutsch reported that Frankfurt-based fintech company Savedroid was learned by Advanced Bitcoin Web sites AG (ABT). Per of the report, the acquisition bring the fintech startup about stock market. Cointelegraph reported in October 2018, where German investors in Savedroid had lost between 46 and 92 percent health of their investment.