German financial regulators taking action consistent with a trend we have been seeing for over the last year in the cryptocurrency regulation arena:
.This action illustrates yet another concrete cross-border policy convergence among securities regulators. Even when rhetoric suggests differences in tone and focus, the bottom line is that the SEC, German regulators, and other financial regulators start from the proposition that trading in cryptocurrencies is exactly the same as trading in any other asset class....and therefore is subject to registration and other regulatory requirements if no exemption is available.
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