Germany Increases Costs For Some Crypto Firms by USD 250000

Germany Increases Costs For Some Crypto Firms by USD 250,000

Germany’s newly installed cryptocurrency laws have made it illegal for new firms to launch crypto trading, custody services and issue tokens, according to experts. Since January 1, the German Banking Act has stated that crypto assets now qualify as financial instruments and that crypto-exchanges and custodians now require a license from the German Federal Financial Supervisory Authority (BaFin).