A week ago, Federal Finance Minister Christian Lindner invited representatives of the financial sector to an exclusive meeting in his ministry. They discussed current challenges and possible solutions for the industry. Topics related to Bitcoin, Blockchain and Co. were also discussed. A crypto delegation led by Peter Grosskopf from Unstoppable financeUlli Spankowski from Stuttgart Stock Exchange and prof dr Philippe Sandner of Frankfurt School by invitation on site. BTC-ECHO spoke to stakeholders to find out what the Minister of Finance has in store for the crypto sector.
First of all, the Digital Finance Forum (DFF) was the starting signal for a series of new meetings between the different sectors of the financial industry, the Bitcoin and crypto space as well as the new direction of the ministry around Christian Lindner and his parliamentary secretary of state Florian Toncar. The Minister of Finance announced shortly after the meeting:
Digital transformation is changing the way we pay, save, invest and insure. My goal is to make Germany the leading location for digital fintech. The Digital Finance Forum is a key strategic pillar.
According to Phillip Sandner, the first meeting served to form working groups and develop an overall roadmap for Bitcoin and Co. Overall, the DFF will meet twice a year. The working groups meet twice a year.
The BMF is generally interested in what moves the financial sector, said Peter Grosskopf in an interview with BTC-ECHO.
The BMF wants to use the forum as a regular exchange format in order to create a good ecosystem for Germany in which innovation is possible.
Lindner: Strengthening Europe from Germany
Basically, Christian Linder sees great potential in the bitcoin and crypto industry, reports Ulli Spankowski. He wants to give the industry opportunities for growth. At the meeting, he reportedly asked what would be needed to “make it bigger”, recalls the CDO of Boerse Stuttgart. In any case, the minister sent positive signals.
Christian Lindner’s plan is not only to strengthen Germany, but also the competitiveness of all of Europe in relation to the USA and Asia. The Federal Republic should act as a kind of pioneer, says Ulli Spankowski BTC-ECHO. However, it has not yet been possible to agree on specific measures for Bitcoin and Co. Nevertheless, Phillip Sandner leaves the first meeting with a good feeling.
I have the impression that things are moving more. The channel is now open and the crypto industry can now tell where the rub is.
Lots of work, little time
And the crypto shoe actually pinches in several places. A Bitcoin ban was recently threatened. Today, the recently passed remittance regulation puts the European crypto market at risk. In Germany, the industry is still outraged by a proposed BMF tax, which could make the Federal Republic unattractive as a crypto location. Peter Grosskopf also sees it that way. If the rules are too varied and too strict, it stifles innovation, says the CDO of Unstoppable Finance. But the BMF definitely acknowledged the link and promised improvements.
However, it is still unclear when these improvements will come. Due to a crypto-friendly course, Portugal is increasingly becoming a popular Bitcoin location in Europe. Ulli Spankowski sees there the danger that companies and talents can migrate to the Iberian Peninsula. Germany must hurry if they don’t want to lose contact. The convening of the Digital Finance Forum is only a first step.
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