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Regulatory News | Electronic securities in Germany — Bundestag discussion (Gesetz zur Einführung digitaler Wertpapiere — eWpG)

micobo GmbH
4 min readMar 22, 2021

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On Thursday, March 4, 2021, the Bundestag discussed the first reading of three draft bills of the German government for various reforms in the area of the capital market.

Being this bill of great importance for the financial industry and its adoption of Distributed Ledger Technologies (DLT), we share with you an English version of the most important aspects of the discussion taken from the German Bundestag.

The German government plans to introduce electronic securities in Germany, to reorganize the supervision of securities institutions, and implement the EU’s covered bonds directive by amending the Pfandbrief Act. The new regulations serve the purpose of strengthening the minimum harmonization of the European Capital Markets Union.

Following the half-hour debate, all bills were referred to the lead Finance Committee for further discussion, together with a motion by the FDP parliamentary group.

Regarding electronic securities, the Bundestag established that the electronic issuance of bonds is to be made possible, and to a lesser extent the issuance of share certificates. The regulation is to be technology-neutral, hence securities issued via blockchain are…

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micobo GmbH
micobo GmbH

Written by micobo GmbH

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