Germany clarifies stance on ICOs

Germany’s Federal Financial Supervisory Authority has issued new guidance on tokens issued during initial coin offerings (ICO).

The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) has issued an advisory letter, explaining that for some time now it has been receiving “increased enquiries” from potential ICO issuers about the legal status of virtual currencies and tokens distributed through ICOs.

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