|

German banks in 2020 will be able to manage cryptocurrencies as a new bill is passed by the government

  • The German parliament has approved a bill to allow for Gerrman banks to manage cryptocurrencies.
  • Banks in 2020 will be able to sell and store cryptocurrencies from 1 January 2020. 

In 2020 German banks will be able to manage cryptocurrencies such as Bitcoin once the fourth EU money laundering directive goes into effect. 

The German parliament passed the bill, which will allow for local banks to be able to sell and store cryptocurrencies from January 1, 2020. Until then, financial institutions and cryptocurrency exchanges still have time to obtain a special license.

In terms of the bill it facilitates them to manage transactions with digital assets in the country legally. This bill can already be considered as a turning point in the global adoption of cryptocurrencies. Distributed Ledger Consulting’s partner Sven Hildebrandt said that Germany will soon become a real “cryptocurrency haven”.

Author

Ken Chigbo

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.

More from Ken Chigbo
Share:

Editor's Picks

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.

Bitcoin extends gains as ETF inflows persist despite broadening US-Iran war

Bitcoin hovers around $73,000 on Thursday, driven by the US Stock market recovery, boosting risk-on sentiment. Data shows analysts are mostly bullish on Bitcoin, citing renewed demand from institutional investors, on-chain holders, and the derivatives market.

Crypto Today: Bitcoin, Ethereum, XRP hold weekly gains despite US-Iran war

The cryptocurrency market is gaining strength on Thursday, building on Wednesday's upswing, which saw Bitcoin reach a weekly high above $74,000. Ethereum and Ripple are moderating their recent gains amid uncertainty stemming from the escalating war in the Middle East.

Pi Network eyes breakout rally as broader market recovers

Pi Network (PI) price extends gains above $0.1900 at press time on Thursday, following a 7% increase the previous day. The upcoming token unlock of more than 20 million PI tokens on Saturday looms over the short-term recovery. 

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: Another month of losses, and it’s been five

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Friday, but the Crypto King is poised to close February on a fragile footing, marking its fifth consecutive month of losses since October and a rare start to the year with back-to-back monthly corrections.