A revolutionary decision for crypto fans has emerged by the Berlin Court of appeals
By Soulla Dionysiou, Lawyer * Transactions in Bitcoin do not constitute a bank transaction and certainly such transactions are not a criminal offence. This was ruled by the Berlin Court of Appeals in its recent decision which criticized the authority of the Federal Financial Supervisory Authority of Germany (BaFin). Αccording to a report published in the website of Frankfurter Allgemeine Zeitung (www.faz.net), the case concerned a 16-year old who created a digital platform in cryptocurrency, without being licensed by the Central Bank. BaFin, found a violation of the Banking Act and the Berlin Court then imposed a fine. The decision, however, was overturned by the Berlin Court of Appeals, which ruled that Bitcoin is neither a financial instrument nor a unit of account, and it is not an alternative currency or considered as electronic-money. In this very important decision, BaFin’s authority and competence for this type of transactions becomes questionable, as according to the