As a courtesy, we would like to inform you about important cornerstones of the so-called “Blockchain Act,” a summary of which is available online at: https://nlaw.li/tvtges.
The law on “Tokens and Trusted Technology Service Providers” (TTTL or in German TVTG, LGBI 2019.301; “Blockchain Act”), which will come into force on 01. January 2020, regulates the registration of service providers providing professional services in accordance with the TVTG (TT services). Such service providers must apply with the FMA for registration in the TT Service Provider Register pursuant to Art. 23 TVTG, and are subject to due diligence obligations pursuant to the Due Diligence Act (DDA; SPG) as of 01. January 2020.