This is big news for Germany Bitcoiners out there!

[cheezcarls]

The regulatory constraints that previously prohibited German banks from offering Bitcoin-related services to clients could soon become a thing of the past.

New reports are coming in that once the fourth EU Money Laundering Directive comes into effect, financial institutions in Germany will have the legal and regulatory approval to offer and hold cryptocurrencies including Bitcoin.

Source link here

What can I say? A change of heart indeed for German banks to finally embrace Bitcoin and cryptocurrencies in their country.

Last time, German banks are prohibited to offer services related to Bitcoin, because they think that it could really hurt their financial ecosystem or consider it as a threat. Now that they have finally understand the impact of Bitcoin and blockchain that would really help them in the long run.

I’m just so happy for them that they can do this legally in their country. I hope that other countries would follow suit, but I don’t expect China, India, Russia and other anti-Bitcoin countries out there might have a “change of heart” soon. I believe there come a time that they would finally change the way they view Bitcoin and other cryptocurrencies in their respective financial ecosystem and not considering them as threats.

[Daniel91]

Great news,  thank you for sharing.
Germany is leader in EU and usually what they do or decide other countries in EU simple follow.
I think that now we will see other banks in EU with the same policy toward crypto what is very good news for EU crypto community.
Of course,  China, Russia and other countries are different story.
But, I think that even before this news we had many positive examples about mass adoption of crypto in EU countries like recent example in my country where state owned Croatian post offering crypto exchange in local post offices.

[crwth]

This would be a game-changer for the world, maybe more and more people would start learning about Bitcoin and realize that it is the future. It's not scams or anything, and sooner or later, every bank will follow in the footsteps. I read also that it's still limited but allowing it is a step towards pure adoption.

For anyone interested in other articles check the link below.
https://cointelegraph.com/news/germany-new-proposed-law-would-legalize-banks-holding-bitcoin

[Juggy777]

The regulatory constraints that previously prohibited German banks from offering Bitcoin-related services to clients could soon become a thing of the past.

New reports are coming in that once the fourth EU Money Laundering Directive comes into effect, financial institutions in Germany will have the legal and regulatory approval to offer and hold cryptocurrencies including Bitcoin.

Source link here

What can I say? A change of heart indeed for German banks to finally embrace Bitcoin and cryptocurrencies in their country.

Last time, German banks are prohibited to offer services related to Bitcoin, because they think that it could really hurt their financial ecosystem or consider it as a threat. Now that they have finally understand the impact of Bitcoin and blockchain that would really help them in the long run.

I’m just so happy for them that they can do this legally in their country. I hope that other countries would follow suit, but I don’t expect China, India, Russia and other anti-Bitcoin countries out there might have a “change of heart” soon. I believe there come a time that they would finally change the way they view Bitcoin and other cryptocurrencies in their respective financial ecosystem and not considering them as threats.

Germany has taken a bold step by allowing banks to offer crypto services, and this is precisely what we keep saying here that fiat and bitcoins can coexist all it requires is some cooperation from banks and governments. @cheezcarls I don’t think any of those countries will adopt bitcoins anytime soon, because they’re busy making anti bitcoins law, and honestly I feel their administrators lack the knowledge of what bitcoin actually is and how they can benefit from it.

[bitbunnny]

This would be a game-changer for the world, maybe more and more people would start learning about Bitcoin and realize that it is the future. It's not scams or anything, and sooner or later, every bank will follow in the footsteps. I read also that it's still limited but allowing it is a step towards pure adoption. 

For anyone interested in other articles check the link below.
https://cointelegraph.com/news/germany-new-proposed-law-would-legalize-banks-holding-bitcoin

This just proves what I was saying, that banks are interested in Bitcoin and to offer to the clients Bitcoin related services. They didn't want to destroy Bitcoin like many thought but tried to find the way how to get into the game.
This is big news and probably a role model for many banks, especialy in Europe so we'll see how this will develope during the time.

[amishmanish]

This just proves what I was saying, that banks are interested in Bitcoin and to offer to the clients Bitcoin related services. They didn't want to destroy Bitcoin like many thought but tried to find the way how to get into the game.
This is big news and probably a role model for many banks, especialy in Europe so we'll see how this will develope during the time.

I think we should wait till the actual bill and its content are released before popping the champagne. Who knows if they will allow Bitcoin to be traded or will just make their own bank coin for use throughout EU. This is the more probable outcome as they may want to follow China's lead.

Although why would anyone want a central bank issued cryptocurrency is something i just don't understand. Like what possible benefit does bitcoin offers in terms of pure functionality to a bank, as compared to their online clearance system/ payment operators?? Nothing..The benefits that it does offer are to the common people. All the banks may be interested in is to not lose the potential business that the old holders can bring.

[msarro]

At present, German banks and financial institutions are prohibited from facilitating the sale of cryptocurrencies for clients. If passed, the proposed bill will transform the status quo.
https://cointelegraph.com/news/germany-new-proposed-law-would-legalize-banks-holding-bitcoin
 

All 16 states have to pass this bill before its implemented in Germany. If its passed, it will be a role model for rest of the world.

[Jet Cash]

They are probably preparing to shove DoucheBank under the bus.

[CryptoBry]

Germany is starting to emerge as the possible big leader in the cryptocurrency market under the EU banner. Now, I am sure that this move can be attracting other banks within the EU economic system, and I am also hoping that the impact long-term can really be good for the whole cryptocurrency industry. Should we then start to celebrate? We can do that subtly because things remains to be seen how this new development can really affect the overall market. But personally I am really hoping that the impact of this can be so good for all of us. Let's see if this can be a good source of inspiration and envy with other countries especially the big ones including the USA, Russia, India and of course China.

[clickerz]

This would be a game-changer for the world, maybe more and more people would start learning about Bitcoin and realize that it is the future. It's not scams or anything, and sooner or later, every bank will follow in the footsteps. I read also that it's still limited but allowing it is a step towards pure adoption.

For anyone interested in other articles check the link below.
https://cointelegraph.com/news/germany-new-proposed-law-would-legalize-banks-holding-bitcoin

Sweet, adoption is real in Germany. This is what we are hoping that now, the government is favoring bitcoin. This is already a movement, a trend that bitcoin and another crypto will be available legally. As a government supports this, people will follow and more will have trust in this new technology.

[Kyraishi]

This is the same/similar change to what happened to all European banks a couple days back, right? Pretty sure there was a bill that is close to getting passed that allows all European banks to be associated with crypto-currency.

Wonder what banks are going to start directly selling crypto-currencies to their customers because it looks like that's now a thing. I'm going to assume they are all going to charge exuberant fees, but it'll make buying BTC extremely, extremely easy. Just login to your banking app, and directly buy BTC!

[Baby Dragon]

This would be a game-changer for the world, maybe more and more people would start learning about Bitcoin and realize that it is the future. It's not scams or anything, and sooner or later, every bank will follow in the footsteps. I read also that it's still limited but allowing it is a step towards pure adoption.

For anyone interested in other articles check the link below.
https://cointelegraph.com/news/germany-new-proposed-law-would-legalize-banks-holding-bitcoin

Indeed, it's possible that it might influence the decision of other countries regarding on legalizing bitcoin, maybe someday the government from other countries will recognize that bitcoin can be beneficial for their country and to their people. It has great capabilities particularly on giving us opportunities, it is great to see that the adoption is getting better day by day and it's improving. There are possible things that may happen in the future and I just hope that things will get better like how people think about bitcoin, this just proves that bitcoin isn't bad as they think it is. It is more than that and it's capable on giving us a better life.

[tsaroz]

Europe has generally been supportive for the blockchain technology and bitcoin. The east European and Baltic countries as well as finance based economies like Luxembourg, Switzerland, Malta and Gibraltar has used blockchain based projects to boost their economies and retain their status of tax haven.

[CodyAlfaridzi]

Good news to hear! I hope the rest of Europe will follow Germany's steps to create a clear regulatory regarding Bitcoin. Once the U.S. and all EU have this, I'm sure the rest of the world will soon follow. This will be huge once China stops making FUD and tanking the price once every year.

[Jating]

As far as I know Germany has been friendly to bitcoin already. And there are a lot of on line merchants already accepting bitcoin as mode of payment.

But this news may validate what we all have been saying all along about Germany, the country is pro bitcoin as compare to the rest of the EU countries who says that bitcoin will disrupt their financial sector.

UTRUST Announces Partnership with Germany’s Largest E-commerce Solution, Gambio, to Enable Cryptocurrency Payments. This news was early 2018,

UTRUST Switzerland AG and Gambio GmbH have initiated a strategic partnership to bring cryptocurrency payments to the mainstream. Gambio is Germany’s biggest E-Commerce Solution with over 25,000 merchants, and billions in annual revenue. Through this partnership, UTRUST will be entering Europe’s largest economy, representing over one-third of total European online sales.

[CyberKuro]

Germany has been a bitcoin-friendly country for years, it's a step forward to take it through the EU law which probably will become a stumbling block.
If it could be realized then it's no wonder if the price of bitcoin will rise significantly in 2020, it's something that could only be done with regulation.

[Natalim]

When the government is positive with crypto, this is always a good news, imagine if crypto will be widely accepted in Germany, that would really help to increase the adoption and that will be an example for other countries to realize that its possible to embrace crypto as long as its properly regulated.

[MATHReX]

Well, a bold step was taken by German and in the right direction.
As I remember, they were among the first ones to come up with policies that were crypto-friendly.
This right here is the adoption we should be talking about.
Slowly, pro-crypto Governments around the world will follow the suit and make decisions as such.
I'm sure in a few years this is the reason we'll see cryptos to a new high.

[audaciousbeing]

The regulatory constraints that previously prohibited German banks from offering Bitcoin-related services to clients could soon become a thing of the past.

New reports are coming in that once the fourth EU Money Laundering Directive comes into effect, financial institutions in Germany will have the legal and regulatory approval to offer and hold cryptocurrencies including Bitcoin.

Source link here

What can I say? A change of heart indeed for German banks to finally embrace Bitcoin and cryptocurrencies in their country.

Last time, German banks are prohibited to offer services related to Bitcoin, because they think that it could really hurt their financial ecosystem or consider it as a threat. Now that they have finally understand the impact of Bitcoin and blockchain that would really help them in the long run.

I’m just so happy for them that they can do this legally in their country. I hope that other countries would follow suit, but I don’t expect China, India, Russia and other anti-Bitcoin countries out there might have a “change of heart” soon. I believe there come a time that they would finally change the way they view Bitcoin and other cryptocurrencies in their respective financial ecosystem and not considering them as threats.

This is good news though and something to rejoice over. It shows the world is evolving and times are changing not for the negative for crypto though which needs to be emphasised. The interesting thing about Germany is that, I had not read anywhere that are hostile or ban bitcoin with aggressive moves like their counterparts in China but just kept their cool to further understand what the new innovation is all about at the same time creating some fundamental framework for it to thrive. Good news let others think of how to make it better.

[BitHodler]

When the government is positive with crypto, this is always a good news, imagine if crypto will be widely accepted in Germany, that would really help to increase the adoption and that will be an example for other countries to realize that its possible to embrace crypto as long as its properly regulated.

I wouldn't really take that too serious because everything in crypto depends on the cycle it is in. If the cycle is bullish then you have a strong point there, but with how bearish the market currently is, I don't see it happen.

I think it's more likely that we will lose a percentage of adoption now the price is going down continuously. Businesses capitulate, people do, miners do, and so on. The space has to bleed in order to grow during the next bull cycle.