The German regulator recognized cryptocurrencies as financial instruments.
Let’s look at what a “financial instrument” is, and how it will affect the life of the cryptocurrency as a whole.
A financial instrument is a document that allows the transfer or sale of funds to be received as a reward.
The vision of bitcoin is the same for several organizations, for example, FATF.
“Cryptocurrencies are digital values that have not been issued or guaranteed by any Central Bank or government authority and are not necessarily linked to a currency defined by law, and that do not have the legal status of currency or money, but are accepted by individuals or legal entities as a means of exchange and can be transmitted, stored, and traded electronically” — Baffin reports
Both individuals and legal entities can use digital currencies. Now about forty German banks will be able to perform various operations with BTC. What are the advantages of this? Now bitcoin can be stored, transferred, and even paid for purchases and various services. The recognition of the status of cryptocurrency money is an important indication of the emerging trend in Germany of issuing a token based on securities.