CMTA & BfeW Team Up to Advance Tokenisation Standards Across Jurisdictions
The Capital Markets and Technology Association (CMTA) and the German Association for Electronic Securities (BfeW) have teamed up to advance tokenisation standards across different jurisdictions. This collaboration has led to significant updates, ensuring compliance with Germany's regulatory framework.
The latest version 3.0.0 of the Solidity reference implementation includes an update that allows the CMTAT to be used in tokenisation processes under Germany's regulatory framework. This update aligns with the requirements of the German Electronic Securities Act (eWpG).
The collaboration has also seen the addition of Markus Kluge to CMTA's Technical Advisory Board Committee. His role is to support the framework's compliance with German regulatory requirements. However, the name of another expert who joined the Technical Advisory Committee to ensure compatibility with German regulations remains unmentioned.
BfeW's Chairman, Christopher Görtz, hailed this collaboration as a significant step towards maintaining compliant yet versatile tokenisation frameworks. This, in turn, fosters innovation within the European digital securities market. Dr Jacques Iffland, CMTA's Chairman, echoed this sentiment, expressing CMTA's commitment to collaborating with global associations to tailor the CMTAT for use in various jurisdictions.
The CMTAT's modular design enables token code to be adjusted to meet local legal requirements, offering flexibility across different jurisdictions. The ERC-7551 standard, developed by BfeW, incorporates core functions outlined in CMTA's tokenisation standards for Switzerland, further promoting international standardisation.
Through their collaboration, CMTA and BfeW have successfully aligned technical frameworks for tokenisation in Switzerland and Germany. This partnership aims to contribute to international standardisation, ensuring compliance with local regulations while fostering innovation in the digital securities market.
