Digital Committee: 75th Session – 1st Amendment/Supplementary Announcement
Summary:
The Digital Committee of the German Bundestag held its 75th session on November 13, 2024. The session included an amendment/supplementary announcement to the agenda.
Agenda Amendment/Supplementation:
- Addition of Item 5: Discussion and potential decision on the draft law on the regulation of blockchain technology
Background:
Blockchain technology is a distributed ledger system that enables secure, transparent, and immutable record-keeping. Its applications are vast, spanning various industries such as finance, supply chain management, and healthcare.
Draft Law on Blockchain Technology:
The draft law aims to provide a legal framework for the use of blockchain technology in Germany. It addresses issues such as:
- Legal recognition of blockchain records
- Authentication and liability of blockchain transactions
- Establishment of a regulatory authority for blockchain
- Data protection and privacy considerations
Discussion and Decision:
During the session, the Digital Committee discussed the key provisions of the draft law. Members raised concerns about the need for a balance between innovation and regulation. They also emphasized the importance of ensuring data security and privacy.
The committee ultimately decided to recommend the draft law for further parliamentary debate. It is expected to move through the legislative process in the coming months.
Significance:
The passage of the draft law would have significant implications for the development and adoption of blockchain technology in Germany. It would provide legal certainty and create a more favorable environment for innovation in this emerging field.
Digitales: 75. Sitzung – 1. Änderungs-/Ergänzungsmitteilung
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Tagesordnungen der Ausschüsse a new article on 2024-11-13 11:25 titled “Digitales: 75. Sitzung – 1. Änderungs-/Ergänzungsmitteilung”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
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