One might think that the situation on the crypto market looks like calm before the storm.According to well-known Bitcoin experts and analysts, one would be inclined to say that it could go up and down.Depending on the direction in which the Bitcoin price will evolve soon, we could put our horn on the next bullish run or ride on the bear in the abyss.
An examination of the situation in the cryptography market confirms that investor sentiment is also moving towards a more neutral territory.A week ago, she was still in”extreme fear”, she slowly returns to the green zone:
At the heart of this changing climate, a message haunts the cryptographic world: Germany could become a crypto mecca in 2020, as German banks will soon sell Bitcoin.It is time to look in more detail at the promise of salvation.Bitcoin banks, Germany and the new law on conservation
On 29 November, the German Federal Council adopted the resolution recommended by the Finance Committee for the safeguarding of bitcoins and other encrypted currencies.
He had argued in favor of canceling Bitcoin’s separation offer and other financial services or regulated banking services.
At first, it means nothing more than allowing German banks to keep Bitcoin & Co.
from 2020.
On the crypto scene, the news immediately shifted: Germany would become the new Mecca of Bitcoin, as German banks would soon sell Bitcoin.Once the new law is passed, it is theoretically possible.However, the fact that banks embark on the crypto-currency dance is another problem.After all, bitcoin trading is still a risky business.
The cryptographic projects of the German banks, however, do not seem sufficiently advanced.
For example, the replies to the inquiries from Commerzbank, Santander, DZBank, Bayerische Landesbank, Berliner Sparkasse and Volkswagen Bank have yet to be answered.Only the press office of ING confirmed that it was monitoring the evolution of the market.
Concrete integration projects of Bitcoin & Co.do not exist however to date.
Frank Hartmann, spokesman for Deutsche Bank, said something similar to BTC-ECHO:
Deutsche Bank is following the evolution of the issue, but it is not currently planned to enter the cryptocurrency conservation sector.Legal certainty prepares the ground for adaptation
Nevertheless, the coming law will provide a regulated fund from 2020, as ecosystems develop.Finally, the lifting of the separation offer means that cryptocurrencies can take place in the same legal context as other regulated banking transactions.After all, more than 10 years after the advent of technology, the paragraph jungle clears up a bit.
As a result, there is still progress in the German ecosystem.We recently learned that Kapilendo, SME financing via tokens for the pizza chain L & # 39; Osteria allows it – the adaptation of blockchain technology is becoming mainstream.What would Satoshi Nakamoto say?
If one remembers the basic idea of Bitcoin, dreams of crypto-adaptation by banks seem absurd.
Has Satoshi Nakamoto not engaged in the idea of designing a decentralized peer-to-peer monetary system without intermediaries, such as banks and / or (central) institutions?
The idea that it is now necessary to resort to mediation to bring technology to women and men seems almost contradictory.The spirit of Satoshi always dances with the ghosts of decentralization.Particularly decentralized markets have not been able to compete in the highly competitive cryptography market.
For example, we have not reported the closure of the CryptoBridge Danish Decentralized Exchange (DEX) until December 2nd.The reasons: legal difficulties and difficult market situation.Crypto News International
This is not everywhere the case as well-intentioned as in the Federal Republic.For example, the head of the Russian central bank warns against cryptocurrencies.She likens Bitcoin & Co.to gambling at the casino, recalling the bubble character of Bitcoin & Co.
Meanwhile, China continues to tweak its own blockchain strategy.Recently, for example, there is the “Blockchain service network”– an octopus of data in daily growth that serves the Communist Party with data.
The Central Bank in South Africa is also restrictive: starting in 2020, controls for fiduciary currencies will be extended to cryptocurrencies.Uncontrolled cash flows should therefore be advanced as quickly as possible.
An Ethereum developer transported political explosives.He was arrested on November 28 in Los Angeles.At a conference in North Korea, he reportedly spread knowledge about the handling of cryptocurrencies for illegal purposes.
In Switzerland, on the other hand, the climate becomes more friendly each month.
Thus, an ongoing bill should provide more legal certainty for blockchain applications.Similar to Malta and Liechtenstein, the Swiss have long been preparing a fertile ground for Bitcoin & Co .: if the current law comes into force, Germany can make a catch-up hunt.Related.
