Foundation of the Federal Association of Crypto Securities Registrars e.V. decided
On April 5, 2023, the Federal Association of Crypto Securities Registrars (Bundesverband der Kryptowertpapierregisterführer e.V.) was founded. Christopher Görtz, attorney for capital markets law at Heuking in Cologne, was elected Chairman of the Board of the association. Mr. Daniel Wernicke, Co-CEO of NYALA Digital Asset AG and managing Director of the founding member Smart Registry GmbH was elected as Deputy Chairman of the Board and Mr. Markus Fehn, Managing Director of E-SEC GmbH, was elected as a further member of the Board. The founding of the federal association originates from a meeting of crypto securities registrars in Cologne hosted by Heuking in November 2022.
The association is particularly committed to improving the relevant framework conditions for crypto securities in terms of the German Electronic Securities Act (eWpG), actively advocates for the interests of crypto securities registrars and the improvement of the relevant framework conditions for crypto securities in dialogue with politics, legislative bodies, supervisory authorities, capital market institutions, interest groups and the public, and promotes the professional exchange of its members among themselves.
Most crypto securities registrars have participated as founding members of the association. Namely, Cashlink Technologies GmbH, Cryptoport GmbH (subsidiary of flatexDEGIRO AG), E-SEC GmbH (subsidiary of Chartered Investment Germany GmbH), GfK - Gesellschaft für Kryptoregisterführung mbH, Smart Registry GmbH (subsidiary of NYALA Digital Asset AG), Tangany GmbH and TokenForge GmbH are founding members of the association. In addition, WM Datenservice was admitted as associated member of the association during the founding meeting.
With the entry into force of the eWpG in mid-2021, the option of issuing electronic securities was created in Germany for the first time. This allows issuers to issue bearer bonds, mortgage bonds and certain shares in special funds purely electronically. In order to ensure that these securities, which are no longer physically present, can be traded and acquired in a legally secure manner, they must be entered into an electronic register. The eWpG provides for two types of electronic securities registers, central registers and decentralized crypto securities registers. Keeping crypto securities registers is a new financial service requiring a license.