German authorities allow the possibility of recognizing NFTs as securities
BaFin clarified that currently none of the non-fungible tokens has received such a status
08.03.2023 - 16:00
301
1 min
0
No non-fungible tokens (NFT) are yet classified as securities – a status that would require licenses and money laundering supervision, German financial regulator BaFin said Wednesday.
Using the blockchain-based tokens that denote ownership of a digital asset for pure speculation doesn’t make it an investment instrument, but some NFTs in future could fall under financial regulations – for example, if a large set offer the same interest payments, the article by BaFin officials said.
“So far, BaFin is not aware of any NFTs classified as securities in the regulatory sense,” the article said. “However, it cannot be ruled out that NFT will be classified as a security in the future.”
Financial instruments would make linked services like investment advice or brokerage subject to regulatory scrutiny – but proof of ownership of collectibles or artwork are unlikely to count under money laundering laws, the article said. It added that regulators need to take account of the stability and integrity of the financial system.
How to treat NFTs has been a crucial issue for the Markets in Crypto Assets (MiCA) regulation, set to apply in Germany and across the European Union within a few years. The final deal requires regulators to look at the substance of what an NFT offers, rather than any mere marketing claims.
In the U.S., whether particular crypto assets fall under the Securities and Exchange Commission’s purview has also been a point of contention in a range of legal cases.
This material is taken from the website https://www.coindesk.com.
Useful material?
Telegram 
Twitter Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Technologies
The company also unveiled its own blockchain adoption index
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$89 941
BTC
-1.58%
-
Ethereum
$3 075.89
ETH
-3.29%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.06
XRP
-8.2%
-
Dogecoin
$0.361938
DOGE
-3.14%
-
Cardano
$0.731627
ADA
-4.3%
-
Bitcoin Cash
$433.12
BCH
-8.46%
-
Polkadot
$5.49
DOT
-4.37%
-
Litecoin
$86.87
LTC
-9.81%
-
Stellar XLM
$0.194437
XLM
+1.98%