BTC$48 040.82


ETH$3 406.76




Binance Coin






German Banks Might Fully Embrace Cryptocurrencies

11 Dec 2019   #Bitcoin

Next year will signify an immensely important stage of adoption of cryptocurrencies by the financial institutions of one of the leading countries of the European Union. The news arrived from Germany, the current economic locomotive of Europe.

Just a few days ago, the Bundestag, the federal parliament of Germany, elaborated the bill that permits banks to carry out operations with cryptocurrencies, Bitcoin in particular, as well as exercise the function of custodians and crypto merchants.

Amendment to the Directive, freedom to crypto operations

In essence, the underlying purpose of the proposed bill is to eliminate a specific clause of the 4th Anti-Money Laundering (AML) Directive, also known as Directive 2015/849, that had put a roadblock on banks’ way towards the gradual adoption of cryptocurrencies. In compliance with this clause and its “separation bid”, to be precise, the banks were prohibited from handling cryptocurrencies on their own accord. Instead, they were forced to rely on different third-party custodians or their subsidiary companies to take care of all crypto-related transactions. In a sense, this was a situation where an intermediary requires another intermediary in order to be able to work with a certain asset.

This state of things created a lot of inconveniences and bureaucratic acrimony, let alone that it complexifies the operations with an asset, and a form of digital money, which suppose to make things much more manageable.

The mentioned AML Directive was adopted in 2017, so it took the German government almost two years to comprehend that the current legislation is not entirely effective, especially in the nuances that concern cryptocurrencies. It didn’t only hinder the banks’ ability to work with cryptocurrencies, but also wasn’t doing any good for the customers, who were cautious about entrusting their cryptocurrencies to a third party, which is not much different from storing coin of centralized cryptocurrency exchanges.

Germany might become a go-to place for crypto holders

If the bill acquires consensus of all sixteen states that comprise the Federal Republic of Germany, the banks will be given the green light to provide the all-encompassing exchange, remittance, and custodian services for the customers who hold cryptocurrencies.

In theory, the adoption of the bill should incentivize those who were reluctant to store cryptocurrencies in banks, and also put Bitcoin on the same footing with the traditional securities, for example, bonds, equities, and stocks.

Should the proposal get the necessary approval of all political bodies, the bill is going to be passed by the Bundestag without a hitch and enacted into law in the first half of 2020. Subsequently, Germany might pave itself a way to becoming the largest and the most attractive cryptocurrency haven in Europe, a title that is currently being held by Estonia. In turn, it could set up a new and significant milestone in the mass adoption of cryptocurrencies since Germany represent the fourth-largest economy in the world.

The domestic reaction

The response to the legislative initiative has been nothing but positive. For example, Sven Hildebrant, a senior executive at Distributed Ledger Consulting, said that he fully supports the efforts made by the national legislator to place Germany at the spearhead of cryptocurrency adoption in Europe.

Bundesverband Deutsche Banken (BDB, which is the Association of German Banks and a powerful lobbying group, has also approved the initiative because it will grant better access for institutional investors to the crypto space.

Author: Alex Paulson for


Bitcoin sees quite healthy consolidation on $200M BTC options expiry day
Bitcoin has now been above $10K for a whole year
Bitcoin bulls look to profit from Friday’s $195M BTC options expiry
Bitcoin steals $47K from bears as critical BTC price resistance crumbles
Tight crypto market range as compressed spring
Bitcoin price flirts with $40K, but derivatives data is still bullish
Here are the BTC price levels to watch as $38K emerges as bulls' line in the sand
Bitcoin does not make a great deal of sense
Without confirmation from BTC, altcoin’s growth could be a trap

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 88.4% 18 $48 040.82 -1.15% 4.49% $904 138 209 931 $27 168 138 382
2 Ethereum (ETH) ETH Ethereum predictions 76.4% 50 $3 406.76 -3.36% -0.59% $400 587 974 492 $14 083 515 721
3 Cardano (ADA) ADA Cardano predictions 68% 67 $2.37 -1.97% -9.16% $75 770 110 129 $1 761 903 242
4 Binance Coin (BNB) BNB Binance Coin predictions 64% 71 $409.51 -2.13% -1.24% $68 853 321 231 $1 118 665 295
5 Tether (USDT) USDT Tether predictions 92% 1 $0.998941 -0.15% -0.13% $68 220 155 150 $55 238 355 832
6 XRP (XRP) XRP XRP predictions 69.6% 61 $1.074680 -1.02% -2.67% $50 104 002 644 $2 001 954 604
7 Solana (SOL) SOL Solana predictions 60% 90 $159.62 -0.39% -11.29% $47 403 146 839 $4 342 326 777
8 Polkadot (DOT) DOT Polkadot predictions 64% 81 $33.87 -3.28% 5.40% $33 450 932 962 $1 531 270 854
9 Dogecoin (DOGE) DOGE Dogecoin predictions 63.2% 75 $0.238990 -2.72% -2.75% $31 391 728 418 $814 388 693
10 USD Coin (USDC) USDC USD Coin predictions 90.8% 1 $0.998865 -0.13% -0.15% $29 376 466 972 $1 886 680 146
11 Avalanche (AVAX) AVAX Avalanche predictions 68.4% 69 $72.57 1.86% 14.34% $15 986 861 751 $1 646 527 720
12 UniSwap (UNI) UNI UniSwap predictions 69.6% 64 $24.41 -2.34% 2.68% $14 931 117 171 $258 525 925
13 Terra (LUNA) LUNA Terra predictions 69.6% 64 $35.81 0.61% -13.26% $14 384 328 816 $821 923 843
14 Chainlink (LINK) LINK Chainlink predictions 74.4% 51 $28.31 -3.15% 0.91% $12 837 320 531 $907 387 794
15 Binance USD (BUSD) BUSD Binance USD predictions 95.2% 1 $0.998729 -0.16% -0.14% $12 797 266 194 $4 423 728 987

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2021

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.