German parliament passes bill allowing banks to sell and store cryptocurrencies

Re:German parliament passes bill allowing banks to sell and ... by logicchains on Friday November 29, 2019 @08:06AM (#21664101)

Seems they're making all crypto exchanges not registered in Germany illegal for their citizens. I wonder what the punishment will be for a German who buys crypto from an unregistered exchange?

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Re:German parliament passes bill allowing banks to sell and ... by wongarsu on Friday November 29, 2019 @08:19AM (#21664174)

I'm not so sure about that. I haven't looked up the legal text, but to me it only sounds like operating some services like crypto exchanges requires a licence.

As a citizen I can interact with a Canadian bank that has no German licence, as long as I don't launder money. The Canadian bank just can't do business activities in Germany (advertisement, opening an office, etc).

Overall this seems like a bigpositive since it gives crypto currencies a more solid place in the German legal framework, taking it out of the niche

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Re:German parliament passes bill allowing banks to sell and ... by imtringued on Friday November 29, 2019 @09:14AM (#21664493)

The punishment is that foreign exchanges will refuse to do business with Germans.

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Re:German parliament passes bill allowing banks to sell and ... by DyslexicAtheist on Friday November 29, 2019 @08:18AM (#21664165)

cash rules everything around me C.R.E.A.M get the money, so I'm more concerned about the push to abolish cash

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Re:German parliament passes bill allowing banks to sell and ... by zeug on Friday November 29, 2019 @08:18AM (#21664169)

Nothing. In normal the Company selling these have to prevents Germans to buy cryptocoins.

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