Digitalisation is fundamentally changing the world. The financial sector, politics and supervisory authorities must recognise the opportunities of technological progress for the industry and jointly tackle its challenges.
BVI is promoting a national blockchain initiative in asset management to ensure that German fund providers catch up with the digital transformation and the technological competitiveness of the financial industry. The use of "distributed ledger technology" (DLT) applications would enable transactions to be processed quickly, securely and efficiently. Financial instruments and means of payment must also become DLT-enabled. That is why BVI is calling for, among other things, the introduction of a digital euro as a DLT means of payment. The BVI has successfully lobbied for the introduction of electronic fund units and crypto fund units, as well as for special funds to be allowed to directly invest up to 20 percent of assets in crypto stocks. BVI has successfully lobbied for electronic fund shares to be introduced, crypto fund shares to be planned, and special funds to be allowed to directly invest up to 20 percent of assets in crypto assets.
Other fields of action of BVI in the area of digitalization are cybersecurity and the use of artificial intelligence in asset management.
The acquisition of crypto assets currently raises many practical issues for KVGs. Therefore, members have drafted a guide addressing selected issues.