Regulatory Moves: BaFin Steps Up
In a bold move, on August 16, the German Federal Financial Supervisory Authority (BaFin) dropped a compliance bombshell with a concise leaflet aimed at issuers of cryptocurrencies. This document sheds light on the current legal waters of German crypto standards, which BaFin hopes will help new ICOs to smoothly navigate the murky waters of regulations.
As Cointelegraph auf Deutsch highlighted, not only is this a significant gesture to the crypto sphere, but it also reduces BaFin’s need to hold lengthy discussions with token issuers about their convoluted policies. One can only dream of such clarity in the U.S. crypto landscape; it feels more like a cryptic crossword puzzle on a Monday morning over there!
More Tokens: BaFin Approves New STO Platform
Hot on the heels of regulatory clarity, Luxembourg-based Black Manta Capital Partners has bagged BaFin’s stamp of approval to launch their security token offerings (STOs) through a blockchain platform. With their eyes set on international expansion, they’ve secured a MiFID II license, setting the stage for their Berlin subsidiary to kick off services by Q4 this year.
Black Manta’s co-founder had a bold vision for the future, stating, “We aim to be ‘boutique’ at first but have our eyes on the global stage.” Next stop? Singapore!
Austria Gets Ready for Crypto Payments
Shifting gears to Austria, it looks like A1 Telekom is making moves to embrace cryptocurrency like a warm slice of apple strudel. The country’s leading mobile provider is trialing crypto payment terminals to let customers pay with select digital currencies. All you need is a crypto wallet to make purchases in participating stores.
Markus Schreiber from A1 Business Marketing explained, “This is just the beginning.” Who knew grocery shopping could become a high-tech scavenger hunt?
New Venture Fund Takes Flight in Hamburg
Every great tech revolutions need a sprinkle of capital! Enter Blockrock Ventures, a venture capital company leading the charge with a newly minted fund aimed at jumpstarting blockchain startups. They’ve managed to gather an impressive 5 million euros, with aspirations of hitting 30 million.
What sets them apart? They apparently focus on nurturing and accelerating early-stage projects instead of the typical cut-throat venture capital dynamic. Blockrock is also eyeing a BaFin license as they plan to scale their investments beyond 100 million euros. Sounds like a promising start for the future moguls of blockchain!
Gritty News: Robbery Forces Crypto ATM Startup into Bankruptcy
Not all news is sunshine and rainbows, however. Bitiago Crypto Consulting in Austria faces a dark cloud after a brazen armed robbery at their office left the company reeling. The founders were forced to hand over cash and transfer cryptocurrencies at gunpoint, which is not exactly the launch pad they envisioned for expanding crypto ATMs in Austria.
Co-founder Andreas Eckhart lamented, “You cannot continue the business because of the robbery.” The company has since filed for bankruptcy, demonstrating just how precarious the crypto landscape can be, even for pioneers.
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