Regulation is an issue that requires a great deal of sensitivity.

Too many restrictions are unnecessary, can hurt an industry and the wider economy, and cost consumers dearly.

However, too little regulation can also mean that unbridled behavior is to the detriment of companies, consumers and the wider economy.

However, since the well-measured extent of the limitation is unknown and constantly changing, it would be a miracle if some regulation was right from the start.

In the political run-up, opinions matter.

The attitude of the European Parliament towards crypto regulation speaks of fundamental distrust, which is anchored in the real dark side of the crypto world: Uncontrolled payment flows are generally suspected of being illegal - not entirely unjustly.

The attitude of the FDP-led Federal Ministry of Finance, which would like to see Germany as the leading crypto nation at least in Europe, is different.

And that's why there are fears in Berlin that too many restrictions could once again drive financial companies to the usual jurisdictions: to Switzerland and Liechtenstein, but since Brexit also to Great Britain, which is still a leader in the financial world.

But who is right?

In most cases, a compromise is reached.

But you will only know in retrospect whether this is really any good.