German Regulators Approve $280 Million Ethereum Token Sale
German startup Fundament has obtained regulatory approval to sell $280 million-worth of a real estate-backed ethereum token to retail investors.
Citing regulatory concerns, Berlin-based security token startup Neufund has announced plans to freeze its fundraising campaigns and sideline future tokenized equity offerings.
In its latest guidance released in January, the regulator said firms already custodying digital assets for Germans would not be penalized for not having a license. Instead, they’d be grandfathered into the same protection that crypto custody firms based in Germany already have under the new law.
Germany's finance and accounting agencies seem to have missed their chance to spot a $2.1 billion black hole in Wirecard's accounts.
While a grandfather clause allows crypto custodians to keep serving German customers without being penalized, those same companies are waiting on financial regulator BaFin to release final regulations around the law.
Two more governments have taken action against entities in the Karatbars ecosystem over sales of a purportedly gold-backed cryptocurrency.