Next German government calls for regulation of crypto and blockchain investments
Two months after the country’s general election, three German parties agreed on an agenda to be implemented by their next coalition government – and the document produced includes a call for increased oversight of crypto assets by security institutions. the European Union.
The three parties – namely the Social Democratic Party of Germany (SPD), Alliance 90 / The Greens and the Free Democratic Party (FPD) – declare to the document that the country needs a “global digital awareness” to maintain its economic competitiveness.
“We are aware of the fact that a digital awakening that preserves our values, our digital sovereignty and a solid technological base can only succeed in a progressive European framework”, state the three coalition partners in the 177-page program.
The next government, which should be led by SPD leader Olaf Scholz, proposes to step up the fight against the illicit use of crypto at European level.
“EU supervisors should not only look after the traditional financial sector, but also prevent the misuse of crypto assets for money laundering and terrorist financing,” says coalition agreement .
The parties recognize that distributed ledger technology is a potential area of development that requires additional investment, alongside other technologies such as artificial intelligence and robotics. They also want to use it to fight tax and financial fraud.
“On the basis of the measures taken in the last legislature, we will do everything possible to prevent abusive dividend arbitrage transactions. To ensure this [system] is fraud-proof, we want new technical options, for example blockchain, to be used even more, ”according to the document.
Ahead of the September 26 elections, which were lost by the Christian Democratic Union of Germany (CDU) / Christian Social Union of Bavaria (CSU) under Chancellor Angela Merkel, the Alliance ’90 / The Greens bloc declared its intention to make cryptocurrencies ‘traceable’, potentially making them much less attractive to users and investors in Germany.
However, the participation of the FDP party, which has a strong free market identity, in the next coalition government makes such a policy unlikely to be adopted by Berlin.
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