German banks want to custody Bitcoin

2022-01-13 区块链达人

We have been working intensively on the subject of crypto custody for a year and a half. With the new regulations in the new Money Laundering Act, now is a good time to get started in practice. After all, we are not a research institute, but a commercial bank.Digital assets will fundamentally change the financial market. As soon as it becomes easier to buy and hold Bitcoin and Co., we expect strong growth. The sales potential in the first year is already in the seven-digit range.

Under the implementation law in Germany, all cryptocurrency exchanges that offer a custody service for their customers, i.e. provide a wallet, are obliged to apply for a licence from the Federal Financial Supervisory Authority (BaFin).The services with cryptocurrencies are not legally treated differently from trading in shares or bonds.

The report continues to quote anonymous sources, which are said to come from government sources and explain that there is great satisfaction with the number of expressions of interest. There is speculation in government circles about a location factor for Germany due to the clear regulation:This gives us almost a unique selling proposition that will help us to bring serious providers to Germany.

Author : Jake Simmons