At a meeting in London earlier this month, the finance ministers from the G7 — the United States, Japan, Britain, Germany, France, Italy and Canada — unanimously agreed to begin creating the framework for a global corporate tax rate. The framework laid out a “two pillar” principle. The first pillar ensures that companies that make a 10% profit margin would be subject to the tax rate. The second pillar ensures that countries will charge a 15% minimum tax rate. Under all of this, the new rules will focus on where the profit was made and not where the company is …

European digital asset manager CoinShares is expanding the reach of its physically backed exchange-traded product (ETP) portfolio with a new listing in Germany. According to an announcement on Monday, CoinShares Physical Bitcoin (BTC), Ether (ETH) and Litecoin (LTC) ETPs have cross-listed on major German exchange Deutsche Boerse Xetra. The digital asset manager started the year by launching a Bitcoin ETP named CoinShares Physical Bitcoin (BITC) in January. Listed on Switzerland’s SIX Swiss Exchange, each ETP is physically backed by 0.001 Bitcoin. Since then, the CoinShares Physical platform has launched Ether and Litecoin ETPs. CoinShares Physical Ether (ETHE) was backed with …

Cryptocurrency investment manager ETC Group is expanding its Bitcoin (BTC) exchange-traded product (ETP) offering in the United Kingdom after harnessing Swiss market rules to bypass more stringent British regulations. The ETC Group Physical Bitcoin ETP, which trades under the ticker symbol BTCE, will begin trading on Aquis Exchange in London and Paris on June 7, the company announced Tuesday. Once launched, BTCE will become the first cryptocurrency ETP to trade in the United Kingdom. Bradley Duke, CEO of ETC Group, said the product is already being used by investors as an “effective hedge against inflation.” He explained: “ETC Group provides …

Boerse Stuttgart Digital Exchange, or BSDEX — which shares its operator with the major public stock exchange in Stuttgart — is rolling out a new mobile app for cryptocurrency traders. As a digital assets trading venue that fulfills the regulatory requirements of the German Banking Act, the venue has been a pioneer in the mainstreaming of crypto in Germany. Previously, investors had access to an earlier crypto trading app called Bison, which was first launched back in 2019. Today’s announcement of a new app indicates that users will be able to trade Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and XRP. …

German securities marketplace Deutsche Boerse and major bank Commerzbank have jointly invested in a new holding company that plans to focus on blockchain technology and digital assets. Deutsche Boerse announced Thursday that the company and Commerzbank entered a strategic partnership with fintech firm 360X to develop new blockchain-based digital marketplaces, for existing real asset classes like art and real estate. A representative from Deutsche Boerse confirmed to Cointelegraph that Deutsche Boerse invested 10 million euros ($12 million) for a stake of about 50% in 360X, while Commerzbank owns a lower double-digit stake. A Deutsche Boerse spokesperson noted that Thursday’s announcement …

New York-based exchange-traded product sponsor and asset manager WisdomTree is expanding its digital assets range with the launch of a new Ether (ETH) exchange-traded product on two European stock exchanges. Borse Xetra and Swiss stock exchange SIX have both listed WisdomTree’s ETP, which provides investors with exposure to the native currency of the Ethereum blockchain without having to hold the asset directly nor to interact with its blockchain infrastructure at all. WisdomTree presents the product as an offshoot of “traditional financial infrastructure and product structuring,” with the provision of institutional-grade storage solutions for investors that remove the need for dealing …

Cryptocurrency exchange Binance’s latest product — digital stock tokens representing fractions of equity shares like Tesla and Coinbase — is reportedly being studied by European and British regulators over its possible non-compliance with securities laws. A new report from the Financial Times claims that regulators are concerned the tokens may not provide sufficiently transparent corporate disclosures, specifically an investment prospectus, that would be required if the tokens were judged to be securities. Germany’s Federal Financial Supervisory Authority, or BaFin, told FT reporters that while it could not comment on the case specifically: “Fundamentally [...] the following applies: if tokens are …

The Deutsche Boerse Group has said it will delist Coinbase's stock listing on its Xetra digital stock exchange as well as the Frankfurt Stock Exchange. According to Reuters, Deutsche Boerse said it would delist Coinbase Global from the two exchanges due to "missing reference data" for the shares. The group said someone involved in listing the Coinbase shares used an incorrect Legal Entity Identifier, or LEI, code. The code is a regulatory requirement for any companies participating in financial transactions. Unless Coinbase or Deutsche Boerse takes action, the stock will no longer be listed on Xetra or the Frankfurt Stock …

Deutsche Telekom, one of the largest telecom providers in Europe, has invested in blockchain payments platform Celo to support the development of decentralized finance. The telecom giant has made a “significant purchase” of Celo’s native token, Celo, through its strategic investment fund, the Telekom Innovation Pool, Celo announced Tuesday. The firms did not specify the size of the investment. In conjunction with the investment, Deutsche Telekom has joined the global Celo Alliance for Prosperity — Celo’s ecosystem and a network of over 130 members, including nonprofits, merchants, payment processors and blockchain firms. According to the announcement, Deutsche Telekom is the …

A German national who reportedly sees his Bitcoin profits as “undeserved wealth” has donated more than $1 million to the country’s green political party. According to Hamburg-based news outlet Die Zeit, Moritz Schmidt, a software developer from the northeastern town of Greifswald, has sent 1 million euro — roughly $1.2 million — to Germany’s green party, known as The Greens or Alliance 90. A party spokesperson said Schmidt had made significant gains during the Bitcoin (BTC) bull run but wanted to contribute to causes related to environmental and climate protection rather than hodling his crypto. “The donor has made it …

The European Central Bank has published the results of a public consultation on a potential digital euro as the institution inches closer to deciding whether to formally study such an initiative. According to a Wednesday announcement, the ECB received more than 8,200 responses to its public digital euro consultation — a personal record for the bank regarding participation in a public consultation. Of the total responses, 47% came from Germany, with a significant amount also coming from Italy and France, accounting for 15% and 11% of total responses, respectively. The majority of respondents said that privacy was the most desired …

London-based ETC Group, the firm responsible for listing the first crypto exchange-traded product on Germany’s Xetra digital stock exchange, will offer a new listing for Litecoin. In an announcement today, the ETC Group said its physical Litecoin exchanged-traded crypto, under the ticker ELTC, will be launching on Deutsche Börse Xetra on April 14. According to the firm, the exchange-traded product, or ETP, will be the first Litecoin (LTC) product on the exchange following approval from Germany's Federal Financial Supervisory Authority, or BaFin. "The current economic uncertainty has underlined the attraction of crypto assets for investors as they offer opportunities for …