Will new German law be the second life for crypto?

Will new German law be the second life for crypto?

Just when we thought that crypto-boom is behind us and nothing can uplift the market to its previous glory, here comes Germany. A parliament of the country adopted a new very exciting bill that has all the potential to bring crypto back in focus!

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The bill allowing financial institutions to buy and sell bitcoin and other cryptocurrencies was officially adopted by the German parliament last Friday, November 29, and will come into full effect on January 1, 2020.

The new rules assume that financial institutions as well as banks in Germany will be able to offer online banking services, including transactions with stocks, bonds and cryptocurrencies, provided these institutions have the appropriate license for the transaction.
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New law also gives banks the ability to store bitcoin and other crypto currencies.

Consideration of the bill was carried out as part of measures to ensure compliance with the requirements of the EU Directive on combating money laundering.

So. Is this the new era for crypto? Let’s hope so!

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