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tokens are financial instruments - so decided the German financial supervision BaFin. According to his official position, Bitcoin and all others kryptowaluty should be regarded as assets in which, according to existing traditional financial law, you can invest.

Tokens are financial instruments

Cryptocurrencies are no longer a new phenomenon. Bitcoin has been with us for over 10 years. However, it entered the salons relatively recently.

People began to be massively interested in cryptocurrencies just a few years ago.

Then they noticed them regulators and financial institutions.

For many months, various institutions have been trying to more or less successfully introduce financial instruments that allow investing in bitcoin and other cryptocurrencies.

It started with futures CBOE.

They currently exist CME futures on bitcoin.

However, the US regulator has not yet allowed direct investment in physical bitcoin through ETF financial instruments.

Also check: The leaders of the Security Token sector share their predictions for 2020

Legalization of cryptocurrencies

In 2020, so far everything is going in the right direction for the cryptocurrency market.

A few days ago India has legalized cryptocurrencies.

Until now, buying them has been illegal there. The removal of the ban in the world's second-largest country is a fantastic opportunity to develop the token market in India.

It should be recalled that this country is associated with projects such as recently purchased by Binance exchange Wirex, as well as cryptocurrency Zebi.

In addition today South Korea has fully legalized cryptocurrencies, which led to strong increases in Korean projects, with so-called Korean projects Ethereum, which is a project ICONat the forefront.

Cryptocurrency status in Germany

The German financial regulator BaFin has published an official position regarding status tokens, Bitcoin and others cryptocurrency in the banking law in force in Germany and the Anti-Money Laundering Act. As indicated, cryptocurrencies, bitcoins and all tokens are financial instruments.

So cryptocurrencies in Germany are a digital representation of value that:

  • it was issued by no bank
  • not subject to central bank guarantee
  • is not guaranteed by any public entity
  • there is no legal status for the currency!
  • but it can be used as a means of exchange or payment by natural and legal persons
  • serves investment purposes
  • can be moved, stored and exchanged electronically

Until now, cryptocurrencies have not been included in any category existing in German financial law.

Now everything has become much simpler.

Tokeny.pl is a cryptocurrency site run by a crypto team of enthusiasts. The main area of ​​our interest are cryptocurrencies, tokens, personal tokens as well as blockchain technology. On the pages of our website we will present independent cryptocurrency reviews and interesting articles from the market. In addition, we present the current rates of all critics. The site also has a multi-functional cryptocurrency calculator as well as traditional currencies.

The information published on the cryptocurrency tokeny.pl website are not financial recommendations and do not constitute investment recommendations within the meaning of the Regulation of the Minister of Finance of 19 October 2005 on information being recommendations regarding financial instruments, their issuers or issuers (Journal of Laws of 2005, No. 206, item 1715). The information published on the pages of the portal does not constitute an offer. Tokeny.pl is not responsible for any decisions taken under the influence of data presented on the Website. Portal does not bear any responsibility for the possible use of information on the website.

Investments in OTC market instruments, including currency exchange rate (CFD) contracts, due to the use of the leverage mechanism, entail the possibility of incurring losses exceeding the value of the deposit. It is not possible to make a profit on transactions on OTC instruments, including currency exchange contracts (CFDs) without risking a loss, therefore contracts for exchange differences (CFDs) may not be suitable for all investors.

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