Germany has always treated virtual currencies as financial instruments based on a view by the German regulator, BaFin, expressed as early as 2011, that bitcoin and related assets are “units of account” akin to artificial currencies. These equate to special drawing rights that are not legal tender but can be…

On 26 June 2017 the new German anti-money laundering act has entered into force. Besides inter alia meeting increased risk demands and the intensified financial penalties, the 4th EU AML Directive prescribes a transparency register in the foreseeable future.