This is big news for Germany Bitcoiners out there! - page 3.

amishmanish

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Quote from: bitbunnny on November 30, 2019, 03:21:01 AM

This just proves what I was saying, that banks are interested in Bitcoin and to offer to the clients Bitcoin related services. They didn't want to destroy Bitcoin like many thought but tried to find the way how to get into the game.
This is big news and probably a role model for many banks, especialy in Europe so we'll see how this will develope during the time.

I think we should wait till the actual bill and its content are released before popping the champagne. Who knows if they will allow Bitcoin to be traded or will just make their own bank coin for use throughout EU. This is the more probable outcome as they may want to follow China's lead.

Although why would anyone want a central bank issued cryptocurrency is something i just don't understand. Like what possible benefit does bitcoin offers in terms of pure functionality to a bank, as compared to their online clearance system/ payment operators?? Nothing..The benefits that it does offer are to the common people. All the banks may be interested in is to not lose the potential business that the old holders can bring.

bitbunnny

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Quote from: crwth on November 30, 2019, 02:53:12 AM

This would be a game-changer for the world, maybe more and more people would start learning about Bitcoin and realize that it is the future. It's not scams or anything, and sooner or later, every bank will follow in the footsteps. I read also that it's still limited but allowing it is a step towards pure adoption.

For anyone interested in other articles check the link below.
https://cointelegraph.com/news/germany-new-proposed-law-would-legalize-banks-holding-bitcoin

This just proves what I was saying, that banks are interested in Bitcoin and to offer to the clients Bitcoin related services. They didn't want to destroy Bitcoin like many thought but tried to find the way how to get into the game.
This is big news and probably a role model for many banks, especialy in Europe so we'll see how this will develope during the time.

Juggy777

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Quote from: cheezcarls on November 30, 2019, 02:41:51 AM

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 has taken a bold step by allowing banks to offer crypto services, and this is precisely what we keep saying here that fiat and bitcoins can coexist all it requires is some cooperation from banks and governments. @cheezcarls I don’t think any of those countries will adopt bitcoins anytime soon, because they’re busy making anti bitcoins law, and honestly I feel their administrators lack the knowledge of what bitcoin actually is and how they can benefit from it.

crwth

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This would be a game-changer for the world, maybe more and more people would start learning about Bitcoin and realize that it is the future. It's not scams or anything, and sooner or later, every bank will follow in the footsteps. I read also that it's still limited but allowing it is a step towards pure adoption.

For anyone interested in other articles check the link below.
https://cointelegraph.com/news/germany-new-proposed-law-would-legalize-banks-holding-bitcoin

Daniel91

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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.

cheezcarls

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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.

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