The federal government is calling for strong supervision of cryptocurrencies and further investments in blockchain

The federal government is calling for strong supervision of cryptocurrencies and further investments in blockchain. Two months after the general election, the three German parties agreed on a program that their new coalition government should implement. And the document that has been drawn up contains a call for greater supervision of crypto assets by the institutions of the European Union.

Federal government calls for strong supervision of cryptocurrencies and further investments in blockchain

The three parties – namely the Social Democratic Party of Germany (SPD), Bündnis 90 / Die Grünen and the Free Democratic Party (FPD) – make it clear in the document that the country needs a “comprehensive digital awakening” in order to remain economically competitive.

The three alliance partners said in the 177-page program: “We are aware that a digital awakening to protect our values, digital sovereignty and a strong technological foundation can only succeed in the context of a progressive Europe.”

The next government, probably at the head of SPD leader Olaf Scholz, proposes to intensify the fight against the illegal use of crypto currencies at the European level.

“EU watchdogs should not only take care of the traditional financial sector, but also prevent the misuse of crypto assets for money laundering and terrorist financing.” according to union agreement.

The parties acknowledge that blockchain distributed ledger technology is a potential growth area that requires further investment alongside other technologies such as artificial intelligence and robotics. They also want to use it to fight tax and financial fraud.

“On the basis of the measures taken in the last legislative phase, we will do everything in our power to prevent abusive dividend arbitrage transactions. Play it safe [hệ thống] In this fight against fraud, we want to make even greater use of new technical possibilities, such as blockchain. “ according to the document.

Before the elections on the 26th, less attractive for users and investors in Germany.

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