From 2020, German banks could be allowed to offer cryptocurrencies. (Not just BTC, but all crypto).

By Allen Walters | Publish0x posts | 30 Nov 2019


Recently you could have seen the news going around that from 2020, German banks will be able to hold and sell Bitcoin. This would be great news. Small fact-check reveals two things:

  • The change in law is not fully passed yet. It still needs to be approved by the “Lander”, for formal approval and integration in to the law. It is, however, expected that the Lander will approve this proposal. 
  • The bill doesn’t just make it possible to offer Bitcoin. It will allow banks to offer all cryptocurrencies. Which is very very bullish news. Most importantly due to the fact that this is a German customized implementation of EU law: The fourth EU money laundering directive. This means that more European countries could follow this example. French authorities seem to be moving towards acceptance and a more crypto friendly attitude. Recently the French Cybercrime unit of the French military police (C3N) in cooperation with Europe, has implemented a smart contract on the Tezos blockchain. The new program allows C3N to acquire cryptocurrency from Europol-allocated funds in order to cover operational costs.” This was the first time ever, a smart contract developed by a public authority, is deployed on a decentralized blockchain.

So we can conclude that this news is even more bullish than portrayed since it will not just favor Bitcoin. All cryptocurrencies are allowed to be offered by banks if the bill fully passes. And it looks good so far. 

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Allen Walters
Allen Walters

Fascinated by blockchain and future proofing cryptocurrency. Discover the tech before it gets relevant. Twitter: @IgnoranceIt


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