is unsatisfactory. It will take some time before rules are passed. Brühl pleads for the strictest possible regulations, analogous to securities supervision. Bafin chief wants global regulation for ICOs. . A series of scandals and fraud shook the sector. But there is not unanimity everywhere, as a prominent example shows: In the USA, the supervisory authorities are even arguing among themselves about the true nature of virtual assets. Perform your own due diligence and choose a wallet where you will keep your bitcoin before selecting an exchange. The crux of the debate is above all the question of the legal quality of the so-called tokens that companies spend on ICOs. Nina Siedler of the Blockchain Association sees only a limited need for action: Above all, the question of which token falls under which supervisory regime needs to be clarified.
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