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 ICO in Germany — A new era begins 

Create legal ICO



There are many reasons why token trading may be subject to BaFin’s “permit reservation”. Whether the permit requirement applies depends in individual cases on how BaFin assesses the business model and the token issue.


Close coordination with BaFin is of crucial importance first of all. Anyone who runs an ICO without an examination by BaFin or the required permission must expect severe criminal sanctions.

BaFin’s permit reservation
BaFin’s information letter


BaFin’s information letter published on 20.02.2018 shows that the authority is not inclined to tolerate ICOs as an unregulated instrument of raising capital.


There are only certain possibilities to create a token that does not fit into one of the possible supervisory categories.


This marks the end of a period of unregulated ICOs in Germany – but also a start for period of legal certainty about the circumstances of a legal ICO.

The competence Cluster Blockchain-Valley is the framework for the establishment of national and international Blockchain companies and their implementation of a legally compliant and successful ICO in Germany.
Necessary conditions for a fast and secure ICO are ensured.



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