Germany will start licensing cryptogusiness from next year 2 октября, 2021

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From January 1, 2020, new rules to combat money laundering will begin to operate in Germany, according to which any business related to cryptocurrency will be obliged to obtain a license of the Federal Financial Supervision.

First of all, the innovation will affect the stock exchange and storage services, which will need to prove that their activities meet the stringent requirements. This is due to the fact that from next year in Germany, cryptocurrencies will be equated with financial instruments falling under the jurisdiction of the regulator.

The Germans ambiguously reacted such changes. According to Frank Sheffler, a member of the Free Democratic Party, approving the new rules, the government oppresses innovation, forcing the representatives of the Crypinustry to move to other countries of the European Union.

On the other hand, local lawyers welcome this decision, saying that the regulation and openness of the industry will ensure its further growth. According to Christian Schmis, the partner of the law firm Hengeler Mueller, institutional investors have not yet accepted the technology because of the unreliable legal framework.

While European countries establish an increasingly tightest framework for cryptogusiness, Asian states continue to create favorable conditions for its development. One example is Iran, which recently

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