{"id":561417,"date":"2023-03-09T12:23:10","date_gmt":"2023-03-09T09:23:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/german-regulator-bafin-suggests-a-case-by-case-approach-for-nfts\/"},"modified":"2023-03-09T12:23:10","modified_gmt":"2023-03-09T09:23:10","slug":"german-regulator-bafin-suggests-a-case-by-case-approach-for-nfts","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/german-regulator-bafin-suggests-a-case-by-case-approach-for-nfts\/","title":{"rendered":"# German regulator BaFin suggests a &#8216;case-by-case&#8217; approach for NFTs"},"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-6a37327b6cfb1\" 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-6a37327b6cfb1\" 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-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/german-regulator-bafin-suggests-a-case-by-case-approach-for-nfts\/#%E2%80%9D_German_regulator_BaFin_suggests_a_%E2%80%98case-by-case_approach_for_NFTs_%E2%80%9C\" >&#8221; German regulator BaFin suggests a &#8216;case-by-case&#8217; approach for NFTs &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_German_regulator_BaFin_suggests_a_%E2%80%98case-by-case_approach_for_NFTs_%E2%80%9C\"><\/span>&#8221; German regulator BaFin suggests a &#8216;case-by-case&#8217; approach for NFTs &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvZWM0OTgxZGMtY2FlZS00OWU3LTllYzAtZmViNDQ5MDZkYmU4LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>Federal Financial Supervisory Authority of Germany (BaFin) is not ready to classify nonfungible tokens (NFTs) as securities yet. The Agency suggests classifying the NFTs on a case-by-case basis.\u00a0<\/p>\n<p>On March 8, the BaFin journal <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bafin.de\/SharedDocs\/Veroeffentlichungen\/DE\/Fachartikel\/2023\/fa_bj_2303_NFT.html\">published<\/a> an explanatory note considering NFTs and their legal classification. At this point, the regulators don\u2019t see how NFTs correspond to the criteria of tradeability and standardization, which define securities. However, in the future, BaFin may consider NFTs as securities. For example, if 1,000 NFTs embody the same repayment and interest claims.<\/p>\n<p>According to another reservation, if an NFT contains documentation of exploitation rights or ownership, such as a promise of distribution, it could be considered an investment. <\/p>\n<p>The agency recommends a case-by-case <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach to the classification of NFTs when it comes to their status as a \u201ccrypto asset.\u201d But, according to BaFin,\u00a0the chance that NFT will represent a \u201ccrypto asset\u201d is even tinier than with the investment classification, given the lack of im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te exchangeability. And a lack of standardization also spares NFTs off the \u201ce-money\u201d status. <\/p>\n<p>Given the difficulties with classification,\u00a0BaFin doesn\u2019t expect the NFTs to comply with the licensing requirements of the Payment Services Supervision Act. And, with the exception of non-fungibles, which would fall under the financial instrument category, NFTs by now are also free of BaFin\u2019s Anti-Money Laundering (AML) supervision. With an exception for those NFTs, which still might be considered \u201ccrypto assets\u201d on a separate occasion. <\/p>\n<p><strong><em><u>Related: <\/u><\/em><\/strong><strong><em>German DZ Bank adds digital currencies to asset management services<\/em><\/strong><\/p>\n<p>According to the metaverse platform Metajuice, almost three out of four of the NFT collectors on its platform purchase NFTs for status, uniqueness and aesthetics. And only 13% percent of the survey participants said that they are buying NFTs to resell them in the future.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/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\/german-regulator-bafin-suggests-a-case-by-case-approach-for-nfts\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; German regulator BaFin suggests a &#8216;case-by-case&#8217; approach for NFTs &#8220; Federal Financial Supervisory Authority of Germany (BaFin) is not ready to classify nonfungible tokens (NFTs) as securities yet. The Agency suggests classifying the NFTs on a case-by-case basis.\u00a0 On March 8, the BaFin journal published an explanatory note considering NFTs and their legal classification&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":561418,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/ec4981dc-caee-49e7-9ec0-feb44906dbe8.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[86730,95118,43905,70934],"class_list":["post-561417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bafin","tag-nft","tag-germany","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/561417","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=561417"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/561417\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/561418"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=561417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=561417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=561417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}