This is big news for Germany Bitcoiners out there!

[Clement Kaliyar]

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.

Even in your statement it shows that the German banks wanted to offer bitcoin related services but the regulatory obstacle was holding them back and hence it is not a change of heart by the regulators will change the entire bitcoin market and people will be able to trade bitcoin with the help of the banking sector and hopefully we will see more countries adopting the same strategy.

[garyrowe]

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 news is not only a win for frequencies enthusiast in Germany but a massive news for all users of crypto around the world. This news to me is a pointer to the fact that Global adoption of the use of crypto is near. Germany is set to take a lead role, which country will be next?

[garyrowe]

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 news is not only a win for frequencies enthusiast in Germany but a massive news for all users of crypto around the world. This news to me is a pointer to the fact that Global adoption of the use of crypto is near. Germany is set to take a lead role, which country will be next?

[slaman29]

This is only really good for the banks. German people were always allowed to get and use crypto, and even German banks could still deal with businesses dealing in crypto (unlike in Israel for example or even India where those accounts would get blocked). The only thing this law does is make things easier, but it won't be so much of a big impact for adoption I think. People won't get crypto just because it's easier.

[worle1bm]

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.

If the bill get passed and banks in germany are allowed to deal in crypto related services then it would be a bold move on their part and set an example for the rest of the world to adopt blockchain technology and cryptocurrencies in their legal financial system which coule really help to boost the economy.A country who supports who decentralized currencies and making trade legal will surely have impact on global market and motivate other to become crypto enthuaiast as more people will be aware about it.Hope all countries understand its need.

[blckhawk]

China is nowhere near being pro-Bitcoin. They're still insisting and would still push the growth of their own government-made cryptocurrency, giving/retaining their control and surveillance to their population's financial activities while still banning and keeping an eye to enterprises with operations related to other cryptocurrencies.

Still, having known Germany leads the way to Bitcoin adoption could impose impact on US and other countries that are still neutral to implementing cryptocurrencies.

[coolcoinz]

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.

So please explain to me why am I able to deposit transactions from Bitcoin exchanges to my Commerzbank account if all banks in Germany are prohibited to offer such services.
There are German exchanges like bitcoin.de that had been able to offer their clients bank transfers for the last 3 years or even more.
Austrian-based bitpanda also provides German bank transfers, and Bitcoin held for over a year is not taxed in Germany.

It's great that they're going to regulate it, but there are no effective bans in place at the moment!

[Jet Cash]

Germany doesn't have the financial clout to become a world leader in banking. Especially as France seems to be taking over control of the EU. The more interesting (in my opinion) group is the emerging BRICS central currency. They are de-dollarising, and accumulating gold, and they are talking about creating a  common crypto to replace the Swift system.

[BChydro]

China is nowhere near being pro-Bitcoin. They're still insisting and would still push the growth of their own government-made cryptocurrency, giving/retaining their control and surveillance to their population's financial activities while still banning and keeping an eye to enterprises with operations related to other cryptocurrencies.

China and bitcoin does not correlate as the government does not like transparent and decentralized currency to be used by its citizens as they want to control the flow of money and wanted to monitor every single transaction and so is the reason they are coming up with their centralized currency.

Still, having known Germany leads the way to Bitcoin adoption could impose impact on US and other countries that are still neutral to implementing cryptocurrencies.

There is no race between countries to make bitcoin legal and if that is the case they would have already done that, German banks got the permission to deal with the bitcoin market and it is a good news of their citizens and hopefully we might see more countries coming up with an positive attitude.

[johnwest]

Though Germany is not a leader in finance or at a strong position in world leadership but still we should welcome any positive step towards crypto regulation. Hopefully, we will see some more adaptation from neighboring countries too.
There are still some countries where government wont allow banks to even transact with exchanges.

[imstillthebest]

woah this was a big news for germanians indeed because for the long time of waiting , they can now finally use bitcoins  .

  if germany did able to change thier mind , why not other countries   ?  afaik china did also change thier mind before a couple times  .  they ban and allow btc and then they ban and allow it again and so on  .  germany was a good country and not really strict while china is controversial so that would be the reason on why they have an issue on the legality of bitcoins .

[kryptqnick]

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.

Actually, there's been an thread about it already: https://bitcointalk.org/index.php?topic=5205444. However, it's important info, so I guess it's okay to have another thread about it. Like people states both here and there, though, the EU-level bill has to pass before any of that stuff with Germany can become possible. So it's early to talk about great news yet in this case. Moreover, the banks might refuse to process cryptos on their own, it's not like all they are waiting for is for cryptos to become legal for them.

[cryptoangel]

Though Germany is not a leader in finance or at a strong position in world leadership but still we should welcome any positive step towards crypto regulation. Hopefully, we will see some more adaptation from neighboring countries too.
There are still some countries where government wont allow banks to even transact with exchanges.

Obviously, Germany is not a leader in finance, But big investors are available in Germany. So It will really helpful to adopt the some other countries regulations. Most of the market will grow and sudden drop is loose the investors are mindset so it will useful to concentrate the future investment of crypto platform.

[jets567]

Financial institutions in Germany like banks offering crypto-related services directly to their clients is a great news indeed because other countries will follow once they see positive outcomes and hopefully they will be able to implement this by year 2020 so might achieved crypto mass adoption sooner.

[lousie9]

Change after change has happened in crypto that we all know a few years ago almost every country did not recognize crypto as a currency let alone enter the bank, but what is happening now is that almost all who refuse now turn to accept it, this is a very good move and I also hope that in the future some countries and the World Bank will follow suit.

[bitvalak]

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 is one step ahead and open with new technology that can benefit many people.
To be honest I am very impressed with Germany where its economic development is always rapid and does not want to be inferior to other developed countries.
Other competing countries such as China and the US should be able to imitate what Germany has done because of its courage to make the right decision.

[pixie85]

It's a good thing because banks now will be allowed to store your crypto for you but we could also say that it's a pointless law because it goes against the purpose of cryptocurrencies.

Placing your cryptocurrencies under the custody of banks makes them useless because it takes away the two best things cryptocurrencies carry: decentralization and anonymity. Now all your bitcoins are useless because they are held by a bank just like fiat and can be seized just like fiat.

[MURONDI]

some countries consider bitcoin as a frightening specter that will threaten their financial ecosystem, now some countries are beginning to understand the benefits of crypto, it's time for the world to accept crypto.

[sehoon]

I'm happy that my country that not really have to ban it. Because since in the beginning, we are free of investing and pulling out money from cryptocurrencies. We can go back and forth all day and no one from the government is going to get us because of those transactions. But I wish that this country is going to talk about more about the blockchain technology.

[cynical]

I like this, it sort of normalises crypto in a way.
The fact that going forward in Germany people can deal with their bitcoin in a perceivably easy way and they can trust their bank to look after it.