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  1. Legal news
    16 August 2019
    PSD2: Germany’s BaFin pulls emergency brakes on account interfaces. Fintechs stand to benefit, banks must step up their game.
    www.twobirds.com/en/news/articles/2019/global/psd2-germanys-bafin-pulls-emergency-brakes-on-account-interfaces

    Germany’s Federal Financial Supervisory Authority (BaFin) concludes in a circular that bank’s new account interfaces do not conform to PSD2 requirements. They may thus not switch off access through existing interfaces.

  2. Legal news
    24 March 2021
    Implications following the Wirecard case – and Greensill?
    www.twobirds.com/en/news/articles/2021/germany/implications-following-the-wirecard-case-and-greensill

    The draft bill of the Financial Market Integrity Strengthening Act (Finanzmarktintegritätsstärkungsgesetz – FISG) and the seven-points plan to reform Germany’s Federal Financial Supervisory Authority (Bundesanstalt für ...

  3. Legal news
    11 June 2019
    ICO: Legal Classification of Tokens – Update BaFin’s view
    www.twobirds.com/en/news/articles/2019/global/icolegal-classification-of-tokens

    Depending on the rights a Token conveys, it can be a Security Token, a Currency Token, a Utility Token or take a hybrid form. Legal literature and regulatory practice can at times diverge.

  4. Legal news
    23 May 2019
    ICO: Legal Classification of Tokens: part 1 Issuance of coins
    www.twobirds.com/en/news/articles/2019/global/ico-legal-classification-of-tokens

    Part 1/5: The Issuance of coins and tokens are an innovative way to raise capital and fund projects using distributed ledger technology. This first part introduces the technology, its structure and basic legal ...

  5. Legal news
    15 June 2020
    Commission seeks views on 'gatekeeper' platforms and a new competition tool
    www.twobirds.com/en/news/articles/2020/global/commission-seeks-views-on-gatekeeper-platforms-and-a-new-competition-tool

    On 2 June, the Commission launched a public consultation on its forthcoming Digital Services Act plus a New Competition Tool and is requesting feedback on roadmaps including one on ex ante regulatory instruments for ...

  6. Legal news
    09 October 2019
    ICO – Germany’s BaFin publishes new guidance notice on crypto token regulation
    www.twobirds.com/en/news/articles/2019/germany/ico-neues-bafin-merkblatt

    On 16 August 2019, the German Federal Financial Supervisory Authority (BaFin) published an updated guidance notice (German) on the issuance of crypto token (e.g. through ICO, ITS or TGE) providing assistance with ...

  7. Legal news
    07 August 2019
    Implementation of the fifth Anti-Money Laundering Directive: Rise or Demise of the German Crypto Market?
    www.twobirds.com/en/news/articles/2019/germany/umsetzung-der-5-geldwaescherichtlinie

    The German Ministry of Finance (Bundesministerium der Finanzen – BMF) published a draft legislative proposal (German) to implement the European directive to amend the fourth European anti-money laundering directive ...

  8. Legal news
    23 December 2020
    Tech & Comms - 2021 Challenges, Opportunities and Predictions
    www.twobirds.com/en/news/articles/2020/global/tech-and-comms-2021-challenges-opportunities-and-predictions

    2020 has been one of the most challenging years in living memory, as governments, businesses and individuals have had to adapt to the impact of the COVID-19 pandemic. The enforced global lockdowns have put a spotlight ...