I read this article after reading this thread: https://www.coinspeaker.com/germany-law-banks-cryptocurrency/
I am not sure how it works as if banks hold crypto on behalf of their clients, what happens if a hack takes place which is the most common thing for any exchange these days. Also, can't find any information about the interest rates and other services like deposits etc.
Topic: Countries with banks to buy and sell cryptocurrencies - page 3. (Read 1615 times)
Actually I do not know other countries that allows to buy and sell cryptocurrency but this happenings in Japan will probably inspire other countries even more that there is no harm if they allow cryptocurrency in their country. Some of them do not want to allow it because they were afraid that their fiat money might be replace by it. Little did they know that it crypto will have a huge impact for their economic growth.
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?
In Romania the IRS legislation covers the crypto domain with specific taxes but regarding banks, they are still reticent to this field. What are the other countries where anyone legally can buy/sell cryptos at commercial centralized banks?
The Monaco government is looking to set up this type of project. With a bank, of course there is no doubt that part of the percentage when purchases and sales are intended for their operation but the idea is there.
Well not all countries will buy and sell crypto , many of them want only to put a tax on crypto and take 10. But i hope to can use faster bank transfer with crypto someday.
They might now accept and buy or sell crypto currencies but I think in the future where digital currencies are inevitable, a lot of countries would be accepting it. I don't think banks will be considering bitcoin or other altcoins to be in their circulation so I think it will just be legalized by a lot of countries and this might be used by a lot of people accepted in a lot of stores or by the merchants.
Well not all countries will buy and sell crypto , many of them want only to put a tax on crypto and take 10. But i hope to can use faster bank transfer with crypto someday.
I have always thought banks will still be of useful advantage to cryptocurrency and to the fact that we may not need to have them totally eliminated for cryptocurrency, they can have a way of working hand in hand with each other to satisfy the users, China would have been my next suspected country but the coronavirus infection may take them little time to gain balance.
dont expect too much on china . arent you aware with thier issues with cryptos before and now they are facing another isues which was this virus . like you i also think that banks is still useful even if we already have cryptos but many says that cryptos are already enough because cryptos can as a bank too . the only problem is the support for cryptos versus banks . banks is still the legal tender and recognized by many . instead of seeing one of them go down why cant we just be good to the both of them .
I have always thought banks will still be of useful advantage to cryptocurrency and to the fact that we may not need to have them totally eliminated for cryptocurrency, they can have a way of working hand in hand with each other to satisfy the users, China would have been my next suspected country but the coronavirus infection may take them little time to gain balance.
dont expect too much on china . arent you aware with thier issues with cryptos before and now they are facing another isues which was this virus . like you i also think that banks is still useful even if we already have cryptos but many says that cryptos are already enough because cryptos can as a bank too . the only problem is the support for cryptos versus banks . banks is still the legal tender and recognized by many . instead of seeing one of them go down why cant we just be good to the both of them .
I am not surprised to see European countries to legalize crypto. Japan was always expected. My eyes are on China. If it does the same, a tremendous pressure will be created on its competitors relating to bitcoin and crypto in general.
They legalized again mining of Bitcoin.
I think it can lead there but I don't think that Bitcoin will be their main currency. I think they will focus on Blockchain technology rather than the cryptocurrency itself. In terms of the banks, as far as I know, last year an article said that it will not be Bitcoin but something for them or for their country, a digital currency like Yuan.
I am not surprised to see European countries to legalize crypto. Japan was always expected. My eyes are on China. If it does the same, a tremendous pressure will be created on its competitors relating to bitcoin and crypto in general.
I have always thought banks will still be of useful advantage to cryptocurrency and to the fact that we may not need to have them totally eliminated for cryptocurrency, they can have a way of working hand in hand with each other to satisfy the users, China would have been my next suspected country but the coronavirus infection may take them little time to gain balance.
Philippines is one of them they allow people to buy Cryptocurrency though indirectly, they will have to deposit funds to their coins.ph account this is a local exchange, using bank that are their partners after you deposit you can buy Cryptocurrency and you can also sell your Cryptocurrency and withdraw it using your favorite local bank.
As you said, it is done indirectly since banks here in our country don't really let you buy bitcoin or any other crypto currencies directly. It is through an excxhange, coins.ph that is why we can transact or buy bitcoin. I don't know when will they consider buying or selling bitcoin or other crypto currencies since for now, I see that impossible to happen.
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?
Read this news like so many times and Every time I keep doing my research to see if any bank in Germany has already started offering cryptocurrency services, but it seems like none of them has taken up with that. I only see the same news about the new law that was implemented and it says that banks may start offering such services, so it’s probably a matter of choice and none of them has started yet. Maybe they are all waiting for who would do it first and when the first goes, others will follow.What are the other countries where anyone legally can buy/sell cryptos at commercial centralized banks?
It’s quite good that they have passed such a law, but banks should be fast with it and I look forward to other countries doing the same.
To be honest, I do not quite understand what is the illegality of buying cryptocurrency on ordinary exchanges.
There is no illegality there. I feel why most banks wants to implement bitcoin into their system is because they thinks they are missing out. Compare to now and when bitcoin started out, alot of people are moving away from saving in the bank to hodling their funds in cryptocurreny for the future. People want to have control of their funds; I mean, who wouldn't want to?Since they can't beat or stop digital currency, particularly Bitcoin; they have to join it. It's for the best.
But also, let's hope they won't put too many restrictions on those who will be banking with their cryptocureny.
To be honest, I do not quite understand what is the illegality of buying cryptocurrency on ordinary exchanges.
It seems that the banks simply decided to stick their intermediary services here.
However, this is an unambiguous plus, because due to the fact that the banks themselves will offer the purchase of bitcoin through their services, ordinary people can safely invest in bitcoin and cryptocurrencies.
In particular, in this way, banks increase the credibility of cryptocurrencies on the part of the general population.
I will not be surprised if in the future there will be deposits allowing you to buy bitcoin at a percentage or take on credit.
How this will be realized is of course a big question, but banks will certainly not lose their profits.
It seems that the banks simply decided to stick their intermediary services here.
However, this is an unambiguous plus, because due to the fact that the banks themselves will offer the purchase of bitcoin through their services, ordinary people can safely invest in bitcoin and cryptocurrencies.
In particular, in this way, banks increase the credibility of cryptocurrencies on the part of the general population.
I will not be surprised if in the future there will be deposits allowing you to buy bitcoin at a percentage or take on credit.
How this will be realized is of course a big question, but banks will certainly not lose their profits.
Bottom line is that banks and governments can't stop people from using bitcoins! Some tried to that, some are still trying, we read about that in news, but actually they are not doing anything significant.
In this way banks decided to take earn something from people who wish to buy trough them. Blockchain is making a revolution in the global economy. DAO (decentralized autonomous organization), DeFi (decentralized finance) are just some new things that blockchain is bringing on the table, it will be interesting to see what will banks do and how will they adapt on this. In one thing I am sure, not all of them will be able to adapt.
To be honest, I do not quite understand what is the illegality of buying cryptocurrency on ordinary exchanges.
It seems that the banks simply decided to stick their intermediary services here.
However, this is an unambiguous plus, because due to the fact that the banks themselves will offer the purchase of bitcoin through their services, ordinary people can safely invest in bitcoin and cryptocurrencies.
In particular, in this way, banks increase the credibility of cryptocurrencies on the part of the general population.
I will not be surprised if in the future there will be deposits allowing you to buy bitcoin at a percentage or take on credit.
How this will be realized is of course a big question, but banks will certainly not lose their profits.
It seems that the banks simply decided to stick their intermediary services here.
However, this is an unambiguous plus, because due to the fact that the banks themselves will offer the purchase of bitcoin through their services, ordinary people can safely invest in bitcoin and cryptocurrencies.
In particular, in this way, banks increase the credibility of cryptocurrencies on the part of the general population.
I will not be surprised if in the future there will be deposits allowing you to buy bitcoin at a percentage or take on credit.
How this will be realized is of course a big question, but banks will certainly not lose their profits.
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?
I know that US and Japan can now legally buy and sell cryptos at their commercial centralized banks because i heard that they already have bitcoin atm machines in both countries. I am also hoping mot only in those countries will crypto became legal because i really wanted for my country to legalize cryptocurrency, so that i will not have problems in converting my cryptos into fiat and vice versa. What are the other countries where anyone legally can buy/sell cryptos at commercial centralized banks?
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?
What are the other countries where anyone legally can buy/sell cryptos at commercial centralized banks?
Philippines is one of them they allow people to buy Cryptocurrency though indirectly, they will have to deposit funds to their coins.ph account this is a local exchange, using bank that are their partners after you deposit you can buy Cryptocurrency and you can also sell your Cryptocurrency and withdraw it using your favorite local bank.
German is so far ahead from Finland in cryptos, which is funny because we are both EU countries and our approach should be at least somewhat similar on this. Bank that i am using just banned while ago their employees to invest in cryptocurrencies. This makes no sense what so ever because buying bitcoin is totally legal in here. I have been thinking of moving at least my address to some other country. I am just waiting to see how things are balancing out on other countries as well, because Finland used to be very crypto-friendly as well.
I didn't know Philippines was like that when it comes to crypto, I wish there were more places like that in the whole world. If we had one company in every nation (one each, not one for all) that basically does exactly what you say you guys have, bitcoin would be adopted so much that we would be basically living in a crypto world.
I don't need to even spend it on everywhere, all we would need could be just bills and meals, that is literally it. If I can spend money on cafe's and movies and whatever in fiat I would be fine with that, as long as I can spend my crypto on paying the bills plus buying the grocery food stuff, that would be more than 50% of my all expenses covered in bitcoin. Giving people around the world chance to spend 50% of their expenses in bitcoin would increase adoption like crazy.
I don't need to even spend it on everywhere, all we would need could be just bills and meals, that is literally it. If I can spend money on cafe's and movies and whatever in fiat I would be fine with that, as long as I can spend my crypto on paying the bills plus buying the grocery food stuff, that would be more than 50% of my all expenses covered in bitcoin. Giving people around the world chance to spend 50% of their expenses in bitcoin would increase adoption like crazy.
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