{"id":372668,"date":"2021-11-26T08:45:25","date_gmt":"2021-11-26T05:45:25","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/new-german-government-cites-crypto-in-coalition-agreement\/"},"modified":"2021-11-26T08:45:25","modified_gmt":"2021-11-26T05:45:25","slug":"new-german-government-cites-crypto-in-coalition-agreement","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/new-german-government-cites-crypto-in-coalition-agreement\/","title":{"rendered":"# New German government cites crypto in coalition agreement"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36ec2445594\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36ec2445594\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/new-german-government-cites-crypto-in-coalition-agreement\/#Crypto_progressing_across_the_EU\" >Crypto progressing across the EU<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># New German government cites crypto in coalition agreement <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTEvYmVlYjRlNjEtNDEyYS00MzMwLTg3MTAtMzcyODU1NTA1NDUwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>The new German government has cited crypto in its coalition agreement, advocating for an equal playing field between traditional finance and \u201cinnovative business models.\u201d<\/p>\n<p>Three German political parties agreed to a coalition deal this week that will see left-leaning <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Social<\/a> Democrats (SDP), the Green Party and the right-friendly Free Democrats (FDP) take the reins from December this year. <\/p>\n<p>According to a rough translation of the 177-page <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.spd.de\/fileadmin\/Dokumente\/Koalitionsvertrag\/Koalitionsvertrag_2021-2025.pdf\">agreement<\/a> published on Nov 24, the coalition calls for a new \u201cdynamic in relation to the opportunities and risks from new financial innovations\u201d such as crypto assets and blockchain businesses:<\/p>\n<blockquote><p>\u201cWe are making European financial market supervisory law fit for digitization and for complex group structures in order to ensure holistic and risk-adequate supervision of new business models.\u201d<\/p><\/blockquote>\n<p>\u201cWe need joint European supervision for the crypto sector. We oblige crypto asset service providers to consistently identify the beneficial owners,\u201d the agreement adds. <\/p>\n<p>The document states the EU supervisory authority should \u201cnot only take care of the traditional financial sector but also prevent the misuse of crypto values for money laundering and terrorist financing.\u201d<\/p>\n<p>The formation of the coalition reportedly took two months of negotiations following the German federal election on Sept. 26, and it marks the end of Angela Merkel&#8217;s 16-year reign as Chancellor who is retiring and will be replaced by the SDP\u2019s Olaf Scholz. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Crypto_progressing_across_the_EU\"><\/span>Crypto progressing across the EU<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Elsewhere on the continent the European Council \u2014which guides the EU&#8217;s political agenda \u2014 adopted two proposals named the \u2018Regulation on Markets in Crypto Assets (MiCA) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/PDF\/?uri=CELEX:52020PC0593&amp;from=EN\">framework<\/a> and the \u2018Digital Operational Resilience Act&#8217; (DORA). <\/p>\n<p>MICA in particular \u2014 initially drafted by the European Commission in September 2020 \u2014 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.consilium.europa.eu\/en\/press\/press-releases\/2021\/11\/24\/digital-finance-package-council-reaches-agreement-on-mica-and-dora\/?utm_source=dsms-auto&amp;utm_medium=email&amp;utm_campaign=Digital+finance+package%3a+Council+reaches+agreement+on+MiCA+and+DORA\">aims<\/a>  to create a \u201cregulatory framework for the crypto-assets market that supports innovation and draws on the potential of crypto-assets.\u201d While it still needs to be ratified by the European Parliament , if enacted, it will subject crypto assets issuers to more stringent requirements, but nonfungible tokens (NFTs) and utility tokens will fall outside the scope of th regulation.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>EU central banks working on DLT-based asset settlement<\/em><\/strong><\/p>\n<p>In a comprehensive <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/old.reddit.com\/r\/CryptoCurrency\/comments\/r218s7\/the_most_important_piece_of_regulation_on\/\">post<\/a> from user \u201cBelgianPolitics\u201d on the r\/CryptoCurrency subReddit on Nov. 26 the progressive regulatory proposal was labeled as the \u201cmost important one to date for the entire crypto industry.\u201d<\/p>\n<p>The Redditor\u2019s analysis has almost 900 comments at the time of writing and provides a detailed rundown of the proposed laws in MICA. The author emphasized the significance of the proposals:<\/p>\n<p>\u201cThese rules will have to be followed by every entity operating in the European Union. However, because of the <em>&#8216;Brussels Effect<\/em>,&#8217; there is a very good chance these rules will become international standards in the end. While everyone is focused on the US and China, the EU is casually leading the way,\u201d BelgianPolitics said.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/new-german-government-cites-crypto-in-coalition-agreement\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# New German government cites crypto in coalition agreement &#8221; The new German government has cited crypto in its coalition agreement, advocating for an equal playing field between traditional finance and \u201cinnovative business models.\u201d Three German political parties agreed to a coalition deal this week that will see left-leaning Social Democrats (SDP), the Green Party&#8230;<\/p>\n","protected":false},"author":1,"featured_media":372669,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTEvYmVlYjRlNjEtNDEyYS00MzMwLTg3MTAtMzcyODU1NTA1NDUwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[120347,74355,28340,72705,43905,70934],"class_list":["post-372668","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-european","tag-adoption","tag-europe","tag-european-union","tag-germany","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/372668","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=372668"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/372668\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/372669"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=372668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=372668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=372668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}