New law expected to pass allowing German banks to act as crypto custodians

posted 4 months ago
Beginning January 2020, banks in Germany are expected to be allowed to offer the sale and storage of cryptocurrencies under new legislation, thus acting as crypto custodians.

Previously, banks were barred from offering direct access to crypto assets, but the new law implementing the fourth EU Money Laundering directive would change that. The bill has already been passed by the German federal parliament, the Bundestag, and is expected to be signed off by the nation's 16 states.
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