With the enactment of the anti-money laundering law in Germany, I feel that it benefits banks by preserving their interests, existence, and hegemony in the economy. Many people realize that the wave of blockchain and the era of digital currency is inevitable. From the business side, this regulation is very beneficial for the Bank because banks have a variety of forms of service which will certainly increase bank profitability.
money laundering can still occur if a group wants to do it, the law applies only to reduce.
Learn from the experience of several banks in Germany that went bankrupt due to money laundering scandals. Then bank officials need to ensure that their banks will not be used for money laundering. It is in their own interest not to be taken advantage of for money laundering or terrorist financing purposes - simply to avoid any damage to their reputation or to prevent significant financial losses which may also jeopardize a bank's very existence.
can still happen if people in the bank come into play.
For the German government itself, this policy will spur the entry of revenues into Germany and spur German economic turnover which had slowed down due to the global economic downturn. The German economy has been supported by manufacturing exports, which have been affected by the weakening global economy.
Even though the global economy is weakening, Germany is still in 4th position, so all experienced the same decline, not only Germany.
With the certainty and legal umbrella for cryptocurrency trade in Germany, it is expected to be transmitted to many other countries. This policy can also be used as a pilot project for other countries which so far only wait and see become learn and action because in essence blockchain and cryptocurrency technology does offer many advantages.
yes if only Germany succeeded in carrying out this development it is not impossible other countries would do it too.
