Bitpay suspends operations in Germany, no longer processing Bitcoin and Bitcoin Cash payments

Due to incoming regulation in Germany, Bitpay has suspended its operations in the country.
They are suspending operations while they evaluate the need for German licenses.

Ken Chigbo Independent Analyst

Bitpay has suspended Bitcoin (BTC) and Bitcoin Cash (BCH) payments via its operations in Germany, reported 1 August.

The company had cited the regulation that is coming into force within the next year in Germany, for reasoning as to why they have decided to suspend their services in the country.

A Bitpay spokesperson said:

Germany has publicly stated that they want crypto companies to apply for a license starting in 2020. We have paused operations in Germany while we evaluate the need for German licenses.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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