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New German government cites crypto in coalition agreement

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CoinTelegraph

Fri, Nov 26, 2021

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The new German government has cited crypto in its coalition agreement, advocating for an equal playing field between traditional finance and “innovative business models.” Three German political parties agreed to a coalition deal this week that will see left-leaning Social Democrats (SDP), the Green Party and the right-friendly Free Democrats (FDP) take the reins from December this year.

According to a rough translation of the 177-page agreement published on Nov 24, the coalition calls for a new “dynamic in relation to the opportunities and risks from new financial innovations” such as crypto assets and blockchain businesses: “We 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.” “We need joint European supervision for the crypto sector.

Elsewhere on the continent the European Council —which guides the EU's political agenda — adopted two proposals named the ‘Regulation on Markets in Crypto Assets (MiCA) framework and the ‘Digital Operational Resilience Act' (DORA).

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