Hot news: Germany’s new favourable rules for cryptocurrency investments

debt, week 22, regulation

Key message: German institutional funds can now invest in cryptocurrencies under new rules. German regulators have allowed it.

Favourable regulation

The new regulation applies to assets held in funds called Spezialfonds. These are funds that are exclusively for institutional investors, not for the general public. Up to one-fifth of these funds can be dedicated to investing in crypto-assets.

This could potentially help pour billions of euros into the crypto market. However, it should be noted that regulators are still on tenterhooks with the ever-changing crypto market.

The new rules came into force earlier this month. These are rules that are in line with the German Federal Financial Supervisory Authority’s (BaFin) efforts to neutralise the attitude towards crypto-investments.

Germany is thus continuing with its accommodating regulations on cryptocurrencies. Crypto exchange Coinbase has been granted permission to offer cryptocurrency custodian services in Germany. Germany continues to plan friendly steps towards the development of cryptocurrencies and blockchain.

It is likely that in the future, other countries will be inspired by these friendly regulations and we may even see a more friendly world for cryptocurrencies.

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Source: beincrypto.com

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