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Germany’s Bitcoin Group Welcomes Licensing for Crypto Custodians, Expects Competition Fr…

13 Mar Germany’s Bitcoin Group Welcomes Licensing for Crypto Custodians, Expects Competition Fr…

Posted at 19:24h in Bitcoin News by

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Germany’s Bitcoin Group Welcomes Licensing for Crypto Custodians, Expects Competition From Banks

Bitcoin Group SE, a prominent member of the European crypto industry, has been preparing to apply for permission to conduct crypto custody activities in its home country, Germany. The providers of such services in the Federal Republic are now recognized as financial institutions. Bitcoin Group, which has been in the business for some time, welcomes the changes that introduced licensing to the sector. Starting from Jan. 1, 2020, banks and other institutions are allowed to store and manage clients’ crypto assets.

Also read: Bitcoin Is Financial Instrument, Clarifies Germany, Crypto Custodians Qualify as Financial Institutions

Bitcoin Group Confirms Plan to Obtain Crypto Custody Permit

As the organization behind one of the largest crypto trading platforms in Europe, Bitcoin Group SE has already established itself as a major custodian of digital assets in Germany. Its fully owned subsidiary, Bitcoin Deutschland AG, operates Germany’s leading regulated…

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