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With the implementation of the European Union’s Fifth Anti-Money Laundering Directive, the German financial supervisory authority, BaFin, has incorporated the crypto custody business as a new type of financial service into the German Banking Act.

In addition to the implementation of the European regulation, BaFin has introduced a new one-of-a-kind “authorization of crypto custody businesses”. An authorization similar to a license grants the right to offer a certain type of financial service.

Download this white paper to learn more about the authorization, including:

• Who needs to apply
• Regulatory requirements
• And more

Vendor:

IDnow GmbH

Posted:

Feb 8, 2021

Published:

Nov 24, 2020

Format:

PDF

Type:

White Paper