German government pays attention to ‘crypto’ and ‘blockchain’ in coalition agreement
As Germany braces for a new era beyond the leadership of Angela Merkel, the largest European economy has put together a coalition agreement which will alert the attention of crypto-enthusiasts.
For the first time ever, Germany’s coalition agreement mentioned both cryptocurrencies and blockchain technology among the pillars that will enable its economy to progress over the next four years.
Next German Government Calls For Crypto Regulation, Blockchain Investments— Gyro Crypto BTC NFT (@GyroCryptoBTC) November 27, 2021
The three parties - namely the Social Democratic Party of Germany (SPD), the Alliance 90/The Greens and the Free Democratic Party (FPD)
“comprehensive digital awakening”https://t.co/Be90VzJK3F#Crypto
The coalition government, which is referred to as the ‘traffic light’, is made up of the centre-left Social Democrats (SPD), the Green Party and the Free Democrats (FDP), and will see Olaf Scholz take over from Angela Merkel as chancellor.
A key part of the coalition’s roadmap for Germany is its desire to modernise and re-energize the country.
White smoke above Germany’s coalition talks... SPD, Greens and FDP have reached a traffic-light 🔴🟢🟡 coalition deal, to be presented this afternoon at 15:00 local time. All being well this would see Olaf Scholz take over from Angela Merkel in the week after next.— Jeremy Cliffe (@JeremyCliffe) November 24, 2021
It has placed an emphasis on moving away from coal usage by 203, committing to 80% renewable energy, while raising the minimum wage to €12 and legalising and regulating the sale of cannabis.
Germany is legalizing cannabis & restricting alcohol advertising.— Matthew O'Brien 🌿 (@Matthewobrien_) November 24, 2021
The world is finally waking up to the fact that cannabis is safer than booze.
Then there is the country’s desire to move into the digital age.
The coalition said it will create a digital state and implement new strategies for crypto and blockchain technologies. “We need a new dynamic in relation to the opportunities and risks from new financial innovations, crypto assets and business models,” the 177-page document reads.
“We advocate a level playing field with equal competitive conditions within the [European Union], between traditional and innovative business models and towards large digital companies.”