Boerse Stuttgart’s Crypto Exchange Live for All Traders in Germany | Dec 7, 2019 at 9:16 AM
  • Germany’s second-largest stock exchange, Boerse Stuttgart, has opened up its cryptocurrency trading platform to all interested traders in the country.
  • The German Federal Financial Supervisory Authority (Bafin) took the view that utility tokens did not qualify as financial instruments, but investment tokens qualify as securities and currency tokens qualify as “units of account” — both of which fall under the definition of financial instruments pursuant to the German Banking Act.
  • Companies wanting to provide crypto trading or custody services are required to obtain a license from Bafin as a bank or an investment firm, the law firm further detailed.