Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Mahindra on July 06, 2021, 03:44:56 PM
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In a massive move forward for cryptocurrency, Germany has passed a new law called the Fund Location Act that implies all specialized investment funds can invest up to 20% of their US$ 2 trillion assets in cryptocurrency such as Bitcoin.
Bundestag, a house in the German parliament, first proposed the law in April and now the bill has become the law. This new law is a great power move as it will bring a large share of Germany’s financial capital into the cryptocurrency industry. According to some market experts, this law can bring US$415 billion in potential crypto investments.
While the UK is tightening its grip on cryptocurrency, the rest of the European countries, including Germany, is curiously interested. They’re quickly trying to form crypto regulations and BaFin, the Federal Financial Supervisory Authority of Germany has now licensed CoinBase exchange for all the crypto operations in the country. Information (https://www.analyticsinsight.net/germanys-new-cryptocurrency-law-welcomes-us415-billion-bitcoin-investments/)
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That is excellent news for a change, I had no idea. Is there any indication the rest of the EU would do something similar?
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This is one very interesting news in the crypto world, that will have some powerful impact to the entire crypto market. With this done, other country's will push up to have their own importance of bitcoin in their own country, and all those who stopped or restricted the use of bitcoin in their country will turn up and embrace it even more. This is one that will push the price of bitcoin high in the soonest time, and giving a strong stand for the crypto world.
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If the German government really does what is explained in the news, it would be a way to leave the door open for other European countries when it comes to investing in cryptocurrencies, and depending on how many European countries decide to invest it would be a large amount of money, but logically that is an independent decision of each country. Who knows, maybe all of this has to do with what the president of El Salvador recently started.