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Germany suggested allowing banks to sell and store bitcoins

In Germany, a bill has been presented that suggests the possibility of storing bitcoins in local banks from next year, writes the Handelsblatt edition.

According to the publication, Germany may have a new set of rules for regulated financial institutions that may be allowed to sell and store cryptocurrency. In accordance with current regulations, such services cannot be offered by legal entities that provide banking services. If the bill is approved, access to cryptocurrencies for clients can be implemented in the same online banking interface that is used to work with securities.

Sven Hildebrandt, head of DLC consulting company, expressed optimism about the new proposal, noting that Germany could become a “crypto-heaven” and will set trends in digital asset regulation.

Representatives of the BdB Banking Association also responded positively, stressing that regulated financial institutions are well-suited for asset holding and anti-money laundering tasks, and investors will no longer have to seek help from foreign funds to acquire cryptocurrencies..

However, not everyone supports the proposal. Niels Nahauser, a finance expert at the Baden-Württemberg Consumer Advocacy Center, said that banks are too aggressive when looking for new clients, and adding cryptocurrencies to their portfolios can lead to unexpected losses: “Basically, banks sell many different financial products for a commission. If they are allowed to sell and store cryptocurrencies, clients risk losing their assets without even knowing what they are getting themselves into. “.

It is noteworthy that the bill is being considered as part of measures to ensure compliance with the requirements of the EU Anti-Money Laundering Directive.

In Germany, it was proposed to allow banks to sell and store bitcoins In Germany, a bill has been submitted that suggests the possibility of storing bitcoins in local banks from next year, writes Handelsblatt.

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