Countries with banks to buy and sell cryptocurrencies

[imons]

No one has mentioned Malta, we've been hearing the good news about that country that they are very open to cryptocurrencies. Binance did open an headquarters on that country because AFAIK, tax is there is free with some conditions.

But it's an example of a country who has a go signal for cryptocurrencies but don't want to issue or sell bitcoins directly. I guess for this matter, it's hard for another country to see such banks to buy and sell crypto's. Do we need them if we already have specific exchanges where we can trade?

It is a long process and Malta does not realize at this point how far ahead they went (compared to other countries) and what advantage they can gain with trading crypto.

[romero121]

More and more countries are getting into cryptocurrency usage with regulations that needs to be followed. Banks are the one that experience a huge revenue loss out of the increasing cryptocurrency usage. Germany being a leader to technology driven industries coming forward with banks starting to buy and sell cryptocurrencies takes cryptocurrency to next level of growth.

This year marked to be a big year for cryptocurrency. As a part more countries have begun to accept cryptocurrency and create their own cryptocurrency.

[Slow death]

What are the other countries where anyone legally can buy/sell cryptos at commercial centralized banks?

If I am correct, there is a difference between countries that let people use their debit cards to buy bitcoin because as in these countries there are no laws they simply allow people to do it Vs countries that legally allow people to buy bitcoin with cards of legally permitted banks. If my reasoning is correct it means that few countries have legally allowed commercial banks to accept that their customers buy bitcoin using their debit cards. I know Japan and Malta and the USA (I think)

[sunsilk]

No one has mentioned Malta, we've been hearing the good news about that country that they are very open to cryptocurrencies. Binance did open an headquarters on that country because AFAIK, tax is there is free with some conditions.

But it's an example of a country who has a go signal for cryptocurrencies but don't want to issue or sell bitcoins directly. I guess for this matter, it's hard for another country to see such banks to buy and sell crypto's. Do we need them if we already have specific exchanges where we can trade?

It is a long process and Malta does not realize at this point how far ahead they went (compared to other countries) and what advantage they can gain with trading crypto.

For the past years, they were always been in the news and I thought that it's something like that. Yeah, they're still far from that kind of adoption but still their status about crypto is better to be like that than nothing or negative.

When I've searched about exact thought of OP about Malta, it's really not that I have expected because as you have said they are still in the process. However, they probably are and will be going up to that point within the next months or up to a year.

[USBitcoinServices.Com]

No one has mentioned Malta, we've been hearing the good news about that country that they are very open to cryptocurrencies. Binance did open an headquarters on that country because AFAIK, tax is there is free with some conditions.

But it's an example of a country who has a go signal for cryptocurrencies but don't want to issue or sell bitcoins directly. I guess for this matter, it's hard for another country to see such banks to buy and sell crypto's. Do we need them if we already have specific exchanges where we can trade?

It is a long process and Malta does not realize at this point how far ahead they went (compared to other countries) and what advantage they can gain with trading crypto.

Indeed Malta is like the center of cryptos, leading this industry in many ways, good for them and their citizens, being pro-crypto will bring them a lot of benefits and fast progress!

[BuNga_cute]

Indeed, something like this is expected by the cryptocurrency community, banks can accept cryptocurrency transactions. Because of the
country with the bank receiving cryptocurrency transactions will make the economy stronger. Because cryptocurrency investors and bank
investors can help each other, hopefully it will continue to grow in countries where banks have begun to openly accept cryptocurrency
transactions. Thus growth can make cryptocurrency can also be increasingly rapid and may even become a global currency.

[mamahdedeh]

No one has mentioned Malta, we've been hearing the good news about that country that they are very open to cryptocurrencies. Binance did open an headquarters on that country because AFAIK, tax is there is free with some conditions.

But it's an example of a country who has a go signal for cryptocurrencies but don't want to issue or sell bitcoins directly. I guess for this matter, it's hard for another country to see such banks to buy and sell crypto's. Do we need them if we already have specific exchanges where we can trade?

It is a long process and Malta does not realize at this point how far ahead they went (compared to other countries) and what advantage they can gain with trading crypto.

Indeed Malta is like the center of cryptos, leading this industry in many ways, good for them and their citizens, being pro-crypto will bring them a lot of benefits and fast progress!

So do not be surprised if there are many projects in crypto with offices there, because indeed the government provides freedom in Malta. many people also say that this country is a paradise for cryptocurrency

[ReiMomo]

I was one of the people who got excited about this project. The first days where people are trying to address this idea were the days the Cryptocurrency industry was booming. People are getting excited to make it work in the real world. However, this one idea caused banks and the government to notice the potential disruption and threat to their businesses.

Since cryptocurrencies are generally decentralized, Bank has no chance to control or take advantage of the market. So they need to call the people who let them do business which is the government. They will be distrupted, the business and the taxation. Everything would make the wolves and lions angry.

[bitgolden]

No one has mentioned Malta, we've been hearing the good news about that country that they are very open to cryptocurrencies. Binance did open an headquarters on that country because AFAIK, tax is there is free with some conditions.

But it's an example of a country who has a go signal for cryptocurrencies but don't want to issue or sell bitcoins directly. I guess for this matter, it's hard for another country to see such banks to buy and sell crypto's. Do we need them if we already have specific exchanges where we can trade?

It is a long process and Malta does not realize at this point how far ahead they went (compared to other countries) and what advantage they can gain with trading crypto.

Indeed Malta is like the center of cryptos, leading this industry in many ways, good for them and their citizens, being pro-crypto will bring them a lot of benefits and fast progress!

So do not be surprised if there are many projects in crypto with offices there, because indeed the government provides freedom in Malta. many people also say that this country is a paradise for cryptocurrency

Malta is a small nation with around 4.94 lacks population as per 2019 population count. This leads them to be more advanced and technical as the resources available in that specific nation are in good amount but the population to use them is much lower as compared to any other countries. This might have made Malta to start regulating the cryptocurrency transactions for the betterment of their population.

This has created a huge impact on the cryptocurrency projects and also we could see that places where cryptocurrencies are been circulated without any legal restrictions than the number of crypto related projects grown in such nation and the same is the case with Malta.

[fiulpro]

Ok so, I found the list from the internet apparently , these are the banks allowing the cryptocurrencies buying and selling .
I am shocked myself to see that most of them are not situated in Japan but they are actually in Europe and UK .

Hopefully it will be helpful for you people living there .


Wirex (UK & Euro Region)   
Change (Euro)   
Revolut (UK & Euro Region)
Bankera (Euro)   
MonAize (Euro)
The United Services Automobile Association (US)   
Bitwala (Germany)
Ally Bank (US)   
Simple Bank (US)   
The National Bank of Canada
Barclays (UK)   
 
(https://themoneymongers.com/crypto-bitcoin-friendly-banks/)

[Subbir]

I think aside from Germany China wants to regulate the cryptocurrency in their country If the demand for cryptocurrency increases in every country this is often excellent news for Bitcoin. Bitcoin prices and demand will both increase If all countries spread the crypto then its transactions would be much easier and banks could easily control the cryptocurrency. within the future all countries of the planet are going to be considered a well-liked currency.

[kesmex]

I think aside from Germany China wants to regulate the cryptocurrency in their country If the demand for cryptocurrency increases in every country this is often excellent news for Bitcoin. Bitcoin prices and demand will both increase If all countries spread the crypto then its transactions would be much easier and banks could easily control the cryptocurrency. within the future all countries of the planet are going to be considered a well-liked currency.

Countries are already thinking about their finances in the future, paper money will definitely have a limit, and if they switch to crypto and create their own digital money, it can be appreciated as a new history, but the negative impact is that altcoin will knocked out

[TheGreatPython]

I'm benumbed to hear that banks in Germany have started allowing cryptocurrency trades within the bank. This would be a great step by cryptocurrencies towards a bright future but how could this actually circulate? Prices keeps on changing due to their high volatile nature and this would make it difficult for the banks to buy or sell at those volatile prices as banks are not this updated to the technologies.

Banks needs to customize their internal affairs in order to get more advanced and start circulating cryptocurrencies into their monetary system. I guess, some of the banks which are not centralized may have started this movement as the governments would never allow the centralized banks to perform such tasks unless until the country legalizes cryptocurrencies.

[USBitcoinServices.Com]

I think aside from Germany China wants to regulate the cryptocurrency in their country If the demand for cryptocurrency increases in every country this is often excellent news for Bitcoin. Bitcoin prices and demand will both increase If all countries spread the crypto then its transactions would be much easier and banks could easily control the cryptocurrency. within the future all countries of the planet are going to be considered a well-liked currency.

History repeats itself, once China starts using their own digital currency, other countries will do the same, they won't like to be left behind this trend of countries issuing their own blockchain digital currency. Something similar already happened with the mass adoption of the internet in 2000.

[Kupid002]

Banks in Germany started to allow people to buy and sell cryptocurrencies this January 2020. I think other countries will do the same soon, Japan might be another country with such services. In the beginning, someone has to start something so others can follow suit.  

What are the other countries where anyone legally can buy/sell cryptos at commercial centralized banks?

buying and selling bitcoin and other crypto currency is not a problem in my country. You can buy and sell directly using your atm card, not only that there are many other option for buying in my country even using remitances.
I hope it will also work with other country since it all working to us.

[worle1bm]

Allowing customers to exchange their cryptocurrencies directly from bank is actually smart move by government. In this way government will have more control and information regarding crypto transactions. But the outlook towards bitcoin is still negative in most of the countries so I don't think more countries will follow the footsteps of Germany.

[frank0ly]

I don’t understand, but nobody forbade us to buy or sell cryptocurrency before. Why people should buy cryptocurrency at a bank, when they can use a regular exchange or wallet?
What can ordinary people get from this innovation?
I don't see any advantages here, except for cryptocurrency advertising and state promotion of cryptocurrency.

[USBitcoinServices.Com]

I don’t understand, but nobody forbade us to buy or sell cryptocurrency before. Why people should buy cryptocurrency at a bank, when they can use a regular exchange or wallet?
What can ordinary people get from this innovation?
I don't see any advantages here, except for cryptocurrency advertising and state promotion of cryptocurrency.

As you know, there are a lot of non-techie people right? for example grandpa, old uncle, people that don't like or don't know how to use email or computers. They need a third party company to do things for them as we see it these days, they use centralized banks. They will keep using commercial centralized banks when they need to own and use cryptos. Understand it now?

[judaspriest]

Banks in Germany started to allow people to buy and sell cryptocurrencies this January 2020. I think other countries will do the same soon, Japan might be another country with such services. In the beginning, someone has to start something so others can follow suit.  

What are the other countries where anyone legally can buy/sell cryptos at commercial centralized banks?

buying and selling bitcoin and other crypto currency is not a problem in my country. You can buy and sell directly using your atm card, not only that there are many other option for buying in my country even using remitances.
I hope it will also work with other country since it all working to us.

where do you live? It seems like your country is very friendly to cryptocurrency, in my country cryptocurrency is still difficult to be used as a means of payment, but to be an asset the crypto currency is already registered with the government

[thesmallgod]

I do not think this can happen now in my country because of the government through the Central Bank have warned people a couple of time to be wary of a digital asset popularly regarded as crypto mostly because of the fact that it was used in a few years ago to fuel a Ponzi scheme popularly refers to as MMM, which had led to lost of life and properties when it crashes. However, there has been increasing awareness about the potential of the blockchain technology especially in banking industries and if there will be anything like selling and buying of crypto by bank in the nearest future, the blockchain technology must have been bedrock on which the most bank will rely on.