Germany's financial market watchdog BaFin on Monday granted the cryptocurrency exchange Coinbase permission to provide crypto custody services.
In 2019, germany passed a law under which all firms keeping custody of crypto assets for german citizens are required to have this license. This will allow Coinbase to provide more services and offerings in the country.
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That is not much different than the US. We have similar laws that state those who want to be custodial institutions have to be licensed.
Coinbase already went through that process here so I am sure it was no big deal for them.
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Yeah. Seems like it's business as usual for them. This might help them expand a little bit in Germany.
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I am wondering what their stance on crypto is since they are allowing Coinbase the yes to crypto custody. As it is centralized, I don't know if they agreed to some shady agreements.
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By imparting such regulations, the government is saving their citizens legally from Coinbase but who will save them from the government. 😂
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