The law relaxes requirements that all transactions be recorded on paper, according to the German Ministry of Finance.
The paper form is replaced by an entry either in a register kept by a central securities depository or a custodian bank (central register security paper) or in decentralised, so-called crypto securities register based on blockchain technology (crypto securities). The new law now makes the issuance of securities purely electronically a possibility.
The legislation, which was introduced as a bill on 11 August 2020, will bring the government’s blockchain strategy closer to fulfilment.
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