Definition of Crypto Values: Current Money Laundering Bill of the German Federal Ministry of Finance

in crypto •  5 years ago 

Crypto.jpg

One thing is clear: The German Federal Ministry of Finance also assumes that crypto values will establish themselves in the financial, economic and social systems.

Overall, the word crypto appears 45 times on 11 pages in the draft.

Excerpt / Definition:

"For the purpose of this law, crypto-values are digital representations of a value that has not been issued or guaranteed by any central bank or public agency and that does not have the legal status of a currency or money. Crypto values are values that are accepted or used as investment or currency by natural or legal persons by agreement or actual practice, and that can be transferred, stored and traded electronically "

(Page 38)

Also have a look at:

http://frankschwabspeaks.com/mobile/Thinking-Blog.php?category=Definition-of-Crypto-Values-by-the-German-Federal-Ministry-of-Finance

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