A rise in German banks 2020 in Bitcoin trading?
It is what is going on. A draft law to allow the German banking industry soon, the storage and sale of Bitcoin.
Federal government wants to give the crypto-location opportunities
If the Blockchain strategy of the German Federal government will bring from 2020, the development of the crypto and Blockchain-companies and investors want? This is a must have to starting next year. However, after all, the policy will finally bring for the Bitcoin buying and trading digital currencies, in total new Soft. The result brings the latest Reports indicate that, especially for banks and their customers changes. Banks were allowed to not have its own crypto-trade models or even Wallets will be this possible in the future. So, a new draft law, the delivery is currently up for a vote in the Bundestag with a positive result by stating it anyway.
The chances for implementation after approval by the individual countries appear to be very good. The law and the draft deals with the money laundering Directive of the EU. The development receives the necessary political support, allowed banks to sell soon in Germany, even digital currencies.
Banks, scenting a source of new revenue
At the same time, the Bank should be able to houses, in addition, also offers for the storage of Coins offer. This would be for the growth market of Germany, in fact, a dramatic positive change. Compared to previous legislative proposals within the German political observers see the new ideas as a mild. Even as a much milder. Because up to now, banks should generally remain in the custody of Ethereum, Litecoin, and other Altcoins is forbidden. In a roundabout way – for example, through subsidiary companies and partnerships with companies specialized was an entry level conceivable. Positive Feedback the design gets, among other things, of the Association of German banks (BdB). They see it as an important step to enable banks to start up in business. As an expert for the safe-keeping of Assets and in dealing with the topic of risk Management, the banks are an important, trusted Partner for investors. Also, the state control by the BaFin, the German banking industry from the draw.
Chance or risk for German investors?
Banks can be active, according to the Association, it is a Central contribution to the fight against terrorist financing and money laundering. For investors arising from the new law, there were also opportunities for investment in German crypto funds. To service providers from the foreign investors can, according to a banking Association, then soon, to a large extent. Criticism, however, there are about from the environment of the consumer Central. There you will see investors risks, if banks give in this way, losses from crypto-trade to the customers. From this point of view, Ripple and Bitcoin for banks could be to the profitable source of income. Important from the point of view of the consumer advocates: customers should in the future be fully informed about the significant investment risks of digital currencies and their derivatives such as Bitcoin Futures. The bottom line is that many observers praise the government open at all finally the way for banking in the crypto sector. This was the stated goal of the Blockchain strategy.
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