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    by Andersen Banking & Finance Team

    L-Bank Subject to ECB Supervision

    Banking & Finance (en)

    Landeskreditbank Baden-Württemberg ("L-Bank") is subject to direct supervision by the European Central Bank ("ECB"). The European Court of Justice ("ECJ") ruled that the ECB had correctly assessed the L-Bank as an important institution and was therefore subject to direct supervision by the ECB (ECJ, judgment of 8 May 2019 - C-450/17 P). However, the imminent amendment of the Capital Requirements Directive is likely end this period of direct ECB-regulation shortly.

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    by Andersen Banking & Finance Team

    Right to Inspect BaFin's Files

    Banking & Finance (en)

    According to Sec. 1 of the Freedom of Information Act (Informationsfreiheitsgesetz "IFG"), everyone has the right to access official information in accordance with the further requirements of the Act. In principle, the files held by an the German Federal Financial Supervisory Authority are also covered by the right to information. Until a recent court ruling this right to information was, however, severely curtailed.

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    by Andersen Banking & Finance Team

    Do Utility Tokens Qualify as Securities?

    Banking & Finance (en)

    Classification of utility tokens as securities has massive implications for all stakeholders in the crypto-business. Yet there is no clear answer to the question whether utility tokens are in fact securities. With this article we will examine the decisive factors that determine securities under German law.

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    by Andersen Banking & Finance Team

    Services in the Field of Cryptotokens - a Case for Financial Supervision?

    Banking & Finance (en)

    In the area of cryptotokens there are - apart from the user or investor - essentially three groups of participants. First there is the issuer of a cryptotokens, who has to deal first and foremost with the regulatory treatment of his tokens. In this article, however, we will focus on the essential secondary services in relation to tokens.

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    by Andersen Banking & Finance Team

    Confusion of Concepts

    Banking & Finance (en)

    The regulatory classification of cryptotokens is anything but trivial. Unnecessarily, however, the non-uniform designation for different forms of cryptotokens contributes to the confusion. Sometimes the same terms are used for different circumstances, which makes the confusion perfect.

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