Topic: This is big news for Germany Bitcoiners out there! (Read 438 times)
if indeed the success of legalizing bitcoin in Germany can be proven, I think this will trigger for other countries to follow in Germany's footsteps in adopting a system like this. because the potential of bitcoin for the future does have a wide reach and will be able to change the situation in the transaction system in a country
Thank god we are hearing such wonderfull news coming from these countries.
That means more investors, more buyers, more price rise sooner than we expect.
Due to their demands i believe there will be a tiny noticeable spike. As it is also a very positive sign of how adoptation is becoming a thing.
I hope for more acceptance from this as an example for future approvals.
That means more investors, more buyers, more price rise sooner than we expect.
Due to their demands i believe there will be a tiny noticeable spike. As it is also a very positive sign of how adoptation is becoming a thing.
I hope for more acceptance from this as an example for future approvals.
I'm happy that my country that not really have to ban it. Because since in the beginning, we are free of investing and pulling out money from cryptocurrencies. We can go back and forth all day and no one from the government is going to get us because of those transactions. But I wish that this country is going to talk about more about the blockchain technology.
I see, more and more country are getting serious about cryptocurrency. I am lucky I have a country who's government do really care about building infrastructure rather than see the danger from cryptocurrency if there is. But to the fact that they need to ban bitcoin for their plans would just disregard opportunities. In terms of Germany's positive involvement in crypto, I could say it would not affect crypto market that much but it can contribute market adoption for countries with lots of population and thus might provide more decent market price for bitcoin.
What the Mesmerizing news at the beginning for my day, Thanks for sharing with us of this news, I think it's the beginning of the new era of Bitcoin and cryptocurrency in the EU, the time is not so far that Cryptocurrency will get accepted around the world and it will dominate in the monetary system for sure, so as a potential leader of EU, Germany has started this journey with a strong hand, I hope other countries will get learn from this steps so that Cryptocurrency system will become more flourish and the people will have the opportunity to connect themselves with the conventional monetary system.
its not only for german bitcoiners but for the whole crypto world mate,because we know that every good news for bitcoin is a good effect for the whole market so i think we are now heading to much better German Bitcoin investing.
and in our community now?we need more and more thread like this because adoption is what we really have to make as FUDders are keeping their work to maintain the nagativity to our good community.
and in our community now?we need more and more thread like this because adoption is what we really have to make as FUDders are keeping their work to maintain the nagativity to our good community.
this is good and interesting news, starting one by one developed countries accept bitcoin, I hope this is the beginning for all countries to follow that policy .. !!
I like this, it sort of normalises crypto in a way.
The fact that going forward in Germany people can deal with their bitcoin in a perceivably easy way and they can trust their bank to look after it.
The fact that going forward in Germany people can deal with their bitcoin in a perceivably easy way and they can trust their bank to look after it.
I'm happy that my country that not really have to ban it. Because since in the beginning, we are free of investing and pulling out money from cryptocurrencies. We can go back and forth all day and no one from the government is going to get us because of those transactions. But I wish that this country is going to talk about more about the blockchain technology.
some countries consider bitcoin as a frightening specter that will threaten their financial ecosystem, now some countries are beginning to understand the benefits of crypto, it's time for the world to accept crypto.
It's a good thing because banks now will be allowed to store your crypto for you but we could also say that it's a pointless law because it goes against the purpose of cryptocurrencies.
Placing your cryptocurrencies under the custody of banks makes them useless because it takes away the two best things cryptocurrencies carry: decentralization and anonymity. Now all your bitcoins are useless because they are held by a bank just like fiat and can be seized just like fiat.
Placing your cryptocurrencies under the custody of banks makes them useless because it takes away the two best things cryptocurrencies carry: decentralization and anonymity. Now all your bitcoins are useless because they are held by a bank just like fiat and can be seized just like fiat.
The regulatory constraints that previously prohibited German banks from offering Bitcoin-related services to clients could soon become a thing of the past.
New reports are coming in that once the fourth EU Money Laundering Directive comes into effect, financial institutions in Germany will have the legal and regulatory approval to offer and hold cryptocurrencies including Bitcoin.
Source link here
What can I say? A change of heart indeed for German banks to finally embrace Bitcoin and cryptocurrencies in their country.
Last time, German banks are prohibited to offer services related to Bitcoin, because they think that it could really hurt their financial ecosystem or consider it as a threat. Now that they have finally understand the impact of Bitcoin and blockchain that would really help them in the long run.
I’m just so happy for them that they can do this legally in their country. I hope that other countries would follow suit, but I don’t expect China, India, Russia and other anti-Bitcoin countries out there might have a “change of heart” soon. I believe there come a time that they would finally change the way they view Bitcoin and other cryptocurrencies in their respective financial ecosystem and not considering them as threats.
Germany is one step ahead and open with new technology that can benefit many people. New reports are coming in that once the fourth EU Money Laundering Directive comes into effect, financial institutions in Germany will have the legal and regulatory approval to offer and hold cryptocurrencies including Bitcoin.
Source link here
What can I say? A change of heart indeed for German banks to finally embrace Bitcoin and cryptocurrencies in their country.
Last time, German banks are prohibited to offer services related to Bitcoin, because they think that it could really hurt their financial ecosystem or consider it as a threat. Now that they have finally understand the impact of Bitcoin and blockchain that would really help them in the long run.
I’m just so happy for them that they can do this legally in their country. I hope that other countries would follow suit, but I don’t expect China, India, Russia and other anti-Bitcoin countries out there might have a “change of heart” soon. I believe there come a time that they would finally change the way they view Bitcoin and other cryptocurrencies in their respective financial ecosystem and not considering them as threats.
To be honest I am very impressed with Germany where its economic development is always rapid and does not want to be inferior to other developed countries.
Other competing countries such as China and the US should be able to imitate what Germany has done because of its courage to make the right decision.
Change after change has happened in crypto that we all know a few years ago almost every country did not recognize crypto as a currency let alone enter the bank, but what is happening now is that almost all who refuse now turn to accept it, this is a very good move and I also hope that in the future some countries and the World Bank will follow suit.
Financial institutions in Germany like banks offering crypto-related services directly to their clients is a great news indeed because other countries will follow once they see positive outcomes and hopefully they will be able to implement this by year 2020 so might achieved crypto mass adoption sooner.
Though Germany is not a leader in finance or at a strong position in world leadership but still we should welcome any positive step towards crypto regulation. Hopefully, we will see some more adaptation from neighboring countries too.
There are still some countries where government wont allow banks to even transact with exchanges.
Obviously, Germany is not a leader in finance, But big investors are available in Germany. So It will really helpful to adopt the some other countries regulations. Most of the market will grow and sudden drop is loose the investors are mindset so it will useful to concentrate the future investment of crypto platform. There are still some countries where government wont allow banks to even transact with exchanges.
Great news, thank you for sharing.
Germany is leader in EU and usually what they do or decide other countries in EU simple follow.
I think that now we will see other banks in EU with the same policy toward crypto what is very good news for EU crypto community.
Of course, China, Russia and other countries are different story.
But, I think that even before this news we had many positive examples about mass adoption of crypto in EU countries like recent example in my country where state owned Croatian post offering crypto exchange in local post offices.
Actually, there's been an thread about it already: https://bitcointalksearch.org/topic/new-eu-law-banks-allowed-to-hold-and-sell-bitcoin-as-of-2020-5205444. However, it's important info, so I guess it's okay to have another thread about it. Like people states both here and there, though, the EU-level bill has to pass before any of that stuff with Germany can become possible. So it's early to talk about great news yet in this case. Moreover, the banks might refuse to process cryptos on their own, it's not like all they are waiting for is for cryptos to become legal for them. Germany is leader in EU and usually what they do or decide other countries in EU simple follow.
I think that now we will see other banks in EU with the same policy toward crypto what is very good news for EU crypto community.
Of course, China, Russia and other countries are different story.
But, I think that even before this news we had many positive examples about mass adoption of crypto in EU countries like recent example in my country where state owned Croatian post offering crypto exchange in local post offices.
woah this was a big news for germanians indeed because for the long time of waiting , they can now finally use bitcoins .
if germany did able to change thier mind , why not other countries ? afaik china did also change thier mind before a couple times . they ban and allow btc and then they ban and allow it again and so on . germany was a good country and not really strict while china is controversial so that would be the reason on why they have an issue on the legality of bitcoins .
if germany did able to change thier mind , why not other countries ? afaik china did also change thier mind before a couple times . they ban and allow btc and then they ban and allow it again and so on . germany was a good country and not really strict while china is controversial so that would be the reason on why they have an issue on the legality of bitcoins .
Though Germany is not a leader in finance or at a strong position in world leadership but still we should welcome any positive step towards crypto regulation. Hopefully, we will see some more adaptation from neighboring countries too.
There are still some countries where government wont allow banks to even transact with exchanges.
There are still some countries where government wont allow banks to even transact with exchanges.
China is nowhere near being pro-Bitcoin. They're still insisting and would still push the growth of their own government-made cryptocurrency, giving/retaining their control and surveillance to their population's financial activities while still banning and keeping an eye to enterprises with operations related to other cryptocurrencies.
China and bitcoin does not correlate as the government does not like transparent and decentralized currency to be used by its citizens as they want to control the flow of money and wanted to monitor every single transaction and so is the reason they are coming up with their centralized currency. Still, having known Germany leads the way to Bitcoin adoption could impose impact on US and other countries that are still neutral to implementing cryptocurrencies.
There is no race between countries to make bitcoin legal and if that is the case they would have already done that, German banks got the permission to deal with the bitcoin market and it is a good news of their citizens and hopefully we might see more countries coming up with an positive attitude. 
Germany doesn't have the financial clout to become a world leader in banking. Especially as France seems to be taking over control of the EU. The more interesting (in my opinion) group is the emerging BRICS central currency. They are de-dollarising, and accumulating gold, and they are talking about creating a common crypto to replace the Swift system.
Last time, German banks are prohibited to offer services related to Bitcoin, because they think that it could really hurt their financial ecosystem or consider it as a threat. Now that they have finally understand the impact of Bitcoin and blockchain that would really help them in the long run.
So please explain to me why am I able to deposit transactions from Bitcoin exchanges to my Commerzbank account if all banks in Germany are prohibited to offer such services.
There are German exchanges like bitcoin.de that had been able to offer their clients bank transfers for the last 3 years or even more.
Austrian-based bitpanda also provides German bank transfers, and Bitcoin held for over a year is not taxed in Germany.
It's great that they're going to regulate it, but there are no effective bans in place at the moment!
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