Why a statement by the banking authority might make Germany the crypto valley

Here is the link to the original statement of the BaFin: <a href="https:&#x2F;&#x2F;www.bafin.de&#x2F;SharedDocs&#x2F;Veroeffentlichungen&#x2F;EN&#x2F;Fachartikel&#x2F;2017&#x2F;fa_bj_1711_ICO_en.html" rel="nofollow">https:&#x2F;&#x2F;www.bafin.de&#x2F;SharedDocs&#x2F;Veroeffentlichungen&#x2F;EN&#x2F;Facha...</a>

So the difference is as follows:<p>- USA: crypto tokens are securities (under US law)<p>- Germany: crypto tokens are units of account (Kreditwesengesetz)<p>The question is whether &quot;units of account&quot; are like normal food sold in supermarkets or financial instruments.

I love the spirit of Berlin and German regulators

That was unexpected...