Germany

10 Countries Actively Regulating Cryptocurrency Despite Global Crisis

</header> <strong>Despite the coronavirus pandemic and the resulting financial crisis, at least 10 countries have made announcements regarding cryptocurrency regulation since our last regulatory roundup. </strong><strong>They include Japan, Malaysia, Singapore, China, Spain, Germany, India, the Philippines, the U.S., and South Korea.</strong> Also read: IMF Declares Global Recession, 80 Countries Request Help, Trillions of Dollars Needed …

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German Startup Pitches Decentralized ID for Prescription Pickup During COVID-19

Berlin-based blockchain startup Spherity has developed a decentralized identity prototype that would help people get the medicines they need while maintaining proper social distance. “We see a big opportunity when it comes to social distancing to get decentralized ID out the door,” said Spherity CEO Carsten Stocker. “Humans interact with smartphones, but governments and doctors’ …

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US Cash Crisis: Withdrawal Limits Spark Bank Run Fear

</header> <strong>The entire world has been focused on the economy as the coronavirus outbreak has devastated global markets. While stocks, commodities, and barrels of oil plunge in value, there’s been considerable demand for cold hard cash in certain countries. According to reports, Wall Street’s elite has been trying to withdraw $30-50K per person as they …

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Shell Subsidiary Builds DLT-Based Virtual Power Plant in Germany

Royal Dutch Shell subsidiary Sonnen Group announced a partnership with the Energy Web Foundation (EWF) to use EWF’s blockchain to create a virtual power plant (VPP) in Germany on March 12. The virtual power plant will comprise a distributed network of residential energy storage systems intended to absorb excess wind power and reduce Germany’s renewable …

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Germany’s Bitcoin Group Welcomes Licensing for Crypto Custodians, Expects Competition From Banks

</header> <strong>Bitcoin Group SE, a prominent member of the European crypto industry, has been preparing to apply for permission to conduct crypto custody activities in its home country, Germany. The providers of such services in the Federal Republic are now recognized as financial institutions. Bitcoin Group, which has been in the business for some time, …

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Unibright to Pilot Blockchain-Based Renewable Energy Trading in Germany

On March 9, blockchain technology provider Unibright (UBT) announced a partnership with German startup Wasserkraft Mittelrhein to use the Unibright Framework to facilitate decentralized renewable energy trading. The partnership will see the firm join Wasserkraft Mittelrhein to facilitate trading, monitoring and data analysis of renewable energy produced by decentralized power plants using the Unibright Framework. …

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CoinTracking.info Helps Crypto Traders Avoid Costly Tax Mistakes

</header> MUNICH, Germany, March 10, 2020 — CoinTracking.info, the world’s most popular cryptocurrency tax software, is announcing the launch of a new service aimed at helping crypto traders avoid a common tax-time mistake: submitting incomplete or incorrect data to the IRS. Many cryptocurrency traders don’t even know that their return isn’t right. Some of the …

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German Crypto Regulator BaFin Shuts Down Unauthorized Bitcoin ATMs

</header> <strong>Germany’s Federal Financial Supervisory Authority (BaFin) has shut down unauthorized bitcoin ATMs in the country. Now that cryptocurrency is regulated under the German Banking Act, bitcoin ATM operators need to be authorized by BaFin. The regulator recently clarified what crypto service providers must do to continue their services.</strong> Also read: 40 Banks in Germany …

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German Financial Regulator Takes Action Against First Bitcoin ATMs

The German financial watchdog is stopping the operations of a company KKT UG from Berlin that allows consumers to buy and sell cryptocurrencies at ATMs. Lack of necessary permission According to a March 4 statement, BaFin ordered Mr. Adam Gramowski, who runs KKT UG as managing editor, to cease cross-border proprietary trading. The order was …

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Bitcoin Is Financial Instrument, Clarifies Germany, Crypto Custodians Qualify as Financial Institutions

</header> <strong>The Federal Financial Supervisory Authority of Germany, Bafin, has issued guidance to clarify the status of cryptocurrencies and the regulations that apply to related business activities. The recommendations are based on the country’s current legislation, taking into account the latest changes. </strong> Also read: Turkey to Inspect Cryptocurrency Exchanges as Part of Government Offensive …

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