Tag Archives: germany

By working together with the US Federal Bureau of Investigation (FBI), German law enforcement agencies have seized nearly $30 million worth of Bitcoin and Bitcoin Cash from two men allegedly running a large pirate streaming website called Movie2K.Movie2K’s BackstoryThe pirate streaming website began operating in 2008 and ran until 2013. In that timeframe, Movie2K allegedly distributed nearly 900,000 copies of movies and TV shows. Its popularity grew rapidly, and before it closed in 2013, it...

Gapless, a blockchain startup based in Germany has raised €5.5 million (appr. $6 million) from a new funding round led by FinLab EOS VC Fund, a joint venture between German investment company FinLab AG and EOSIO blockchain developer, Block.one.Gapless Is Backed By PorscheAccording to reports, other notable venture capital firms and investors that participated in the series include German automobile manufacturing giant Porsche AG and insurance entrepreneur Kersten Jodexnis alongside his Family...

This week has been somewhat positive for the cryptocurrency community. Starting with Bitcoin’s price, which began trading at $8,600 but, since then, it has risen to the current stance of above $9,000.Following its increase, Bitcoin is starting to escape the correlation it recently demonstrated with the traditional financial world markets. As the coronavirus outbreak keeps expanding into new territories, the stock market struggles again. Despite recovering slightly at the start of the week,...

The German Federal Financial Supervisory Authority (BaFin) has recently issued guidelines on cryptocurrencies. Following the 5AMDL from earlier this year, BaFin now classifies all digital assets as financial instruments.Additionally, cryptocurrency custodians will be required to obtain a proper license to offer their services in the country.Defining CryptocurrenciesGermany has been somewhat open-minded in accepting cryptocurrencies in the past. A report from last year said that some banks in...

The American digital asset trust and security company, BitGo, expands its services to Europe. The company is opening two new custodial entities in Switzerland and Germany.BitGo Goes To EuropeReported earlier today, the popular U.S.-based digital asset management company is expanding its presence in Europe. With two new custodial entities in Germany and Switzerland, BitGo will offer institutional investors digital asset financial services in Europe, as well.According to BitGo CEO, Mike Belshe,...

Negative rates are becoming exceedingly popular among central and local banks around the world, and the trend extends in Germany with the start of 2020. Amid this, Bitcoin’s pre-programmed inflation rate raises the question if it could serve as a full-on alternative.Simply put, having negative rates means that instead of receiving interest income on cash deposits, the banking institutions charge a fee for storing the money. The general idea is to incentivize banks to lend more funds freely,...

The slightly negative attention from institutions towards Facebook’s Libra continues with the German Central Bank’s President Jens Weidmann, saying that they have to slow it down with further regulations. He also notes that banks must improve their payment systems and the E.U. should be more considerate regarding launching e-euro.Weidmann On Digital EuroEver since Facebook announced its plans to create a stablecoin, dubbed Libra, the world has turned its attention towards this sort of digital...

Germany has recently announced that its traditional banks are about to start selling bitcoin on a regular basis.Germany To Start Selling CryptoThe news is a huge step forward in that traditional financial enterprises and cryptocurrencies have always been at war with each other. Banks deliver centralized tools and services to people. They are controlled by financial agencies and government regulators and prevent bad actors from doing too much damage.This is all a very good thing, but the main...

While most countries are struggling to understand and regulate cryptocurrencies, Germany might actually introduce them to the general public. A new proposed bill in the country suggests that as of next year, clients should be able to store Bitcoin and other digital assets directly in banks.Bitcoin Storage In German Banks?Germany might be on its way to lead in cryptocurrency adoption. A recent report shows that the country is looking to implement a new set of rules to benefit cryptocurrency...

Governments around the world went on high alert after American social media giant Facebook announced a permissioned blockchain digital currency, named Libra. Unsurprisingly, the prospect of a privately-backed alternative digital currency didn't exactly excite financial regulators in North America, Europe, and Asia. Here are the four countries that really don't like Facebook's Libra. France Is Not a Fan of Libra France has, perhaps, been the most vocal opponent of Facebook's...