In the past banks were not allowed to participate in the business of BitCoin or any other cryptocurrency. No sales, no custodian. This was mainly due to the anti-money laundering regulation. But this is set to change. Or at least in Germany, Europe’s biggest economy.
With the new regulatory changes Germany will become a crypto haven. Providing much-neeced innovation and business activity for its troubled financial sector.
It is expected that this will attract investors via the creation of new funds.
It is another signal that the financial sector and government bureaucrats are adopting to the cryptocurrency world.