A week ago, Federal Finance Minister Christian Lindner invited representatives from the financial sector to an exclusive meeting in his ministry. There they discussed current challenges and possible solutions for the industry. The topics related to Bitcoin, Blockchain and Co. were also discussed. A crypto delegation led by Peter Grosskopf from Unstoppable financeUlli Spankowski from the Stuttgart Stock Exchange and prof dr Phillip Sandner from the Frankfurt School by invitation on site. BTC-ECHO spoke to stakeholders to find out what the Minister of Finance has in store for the crypto sector.
First of all, the Digital Finance Forum (DFF) was the starting signal for a series of further meetings between the different sectors within the financial industry, the Bitcoin and crypto space as well as the new leadership of the ministry around Christian Lindner and his parliamentary state secretary Florian Toncar. The finance minister left shortly after the meeting announce:
Digital transformation is changing how we pay, save, invest and insure. My goal is to make Germany the leading location for digital financial technologies. The Digital Finance Forum is a key strategic pillar for this.
Christian Lindner
According to Phillip Sandner, the first meeting was used to form working groups and to develop a general roadmap for Bitcoin and Co. Overall, the DFF will meet twice a year. The working groups meet twice a year.
The BMF is generally interested in what moves the financial industry, said Peter Grosskopf in an interview with BTC-ECHO.
The BMF wants to use the forum as a format for regular exchange in order to create a good ecosystem for Germany in which innovation is possible.
Peter Grosskopf
Lindner: Strengthening Europe from Germany
Basically, Christian Linder sees great potential in the bitcoin and crypto industry, reports Ulli Spankowski. He wants to give the industry growth opportunities. At the meeting, he is said to have asked what would be necessary to “make the whole thing bigger”, the CDO of Boerse Stuttgart recalls. In any case, the minister sent positive signals.
Christian Lindner’s plan is not only to strengthen Germany, but also the competitiveness of all of Europe compared to the USA and Asia. The Federal Republic should act as a kind of trendsetter, explains Ulli Spankowski BTC-ECHO. However, it has not yet been possible to agree on specific measures for Bitcoin and Co. Nevertheless, Phillip Sandner leaves the first meeting with a good feeling.
I do have the feeling that things are moving more. The channel is now open and the crypto industry can now say where the shoe pinches.
Philip Sander
Many construction sites, little time
And the crypto shoe is actually pinching in several places. A Bitcoin ban was recently threatened. Now the recently passed Transfer of Funds Regulation is endangering the European crypto market. In Germany, the industry is still outraged about a tax draft by the BMF, which could make the Federal Republic unattractive as a crypto location. Peter Grosskopf sees it that way too. If the rules are too varied and too strict, then that inhibits innovation, says Unstoppable Finance’s CDO. But the BMF definitely recognized the connection and promised improvements.
However, it remains unclear when these improvements will come. Due to a crypto-friendly course, Portugal is increasingly becoming a popular Bitcoin location in Europe. Ulli Spankowski sees the danger here that companies and talent could migrate to the Iberian Peninsula. Germany must hurry if it does not want to lose touch. The convening of the Digital Finance Forum is only the first step.
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