Six German banks dealing in crypto, says BaFin

According to German finance ministry six banks in the country are already dealing in cryptocurrencies
05 June 2018   1138

At least six financial institutions in Germany are dealing with cryptocurrency in one form or another, according to the Federal Financial Supervisory Authority (BaFin). This surprising statement was made in response to the inquiry by the member of left-wing political party “The Left” Thomas Lutze.

While not naming the banks in question, BaFin went on to clarify that financial institutions are dealing in and/or possibly acquiring cryptocurrency. It's not surprising, considering the fact that German banks were fist to introduce their clients to Bitcoin several years ago, but the absence of clear government regulation regarding the cryptocurrencies has slowed down the adoption process considerably. Of course, it's quite possible, that the regulations would have put a damper on things and by now there wouldn't be any way for institutions to work with crypto.

Still, BaFin is closely watching the banks under its authority for money laundering, with or without crypto. But anything else, while being closely monitored, is not prohibited, for example, any financial institution with appropriate crypto licenses can place cryptocurrency ATMs in the country.

BTC Invesment Profitability to Exceed Traditional Assets

This conclusion was made by Binance Research team in study "What Bear Market?"; since begining of the year the BTC has grown by more than 50%, while oil by 33%
08 May 2019   320

Since the beginning of the year, Bitcoin has grown faster than traditional market assets, including oil, technology companies, real estate and gold. This conclusion was made by Binance Research in the new study "What Bear Market?"

Since the beginning of the year, the price of Bitcoin has grown by more than 50%, while oil - by 33%, tech stocks - by 18%. The price of gold in five months slipped by 1%.

Recently, however, some factors have emerged that may put pressure on the price of Bitcoin. Thus, the recovery of BTC growth slowed down somewhat amid news of a hacker attack on the popular Binance exchange itself, as a result of which 7,000 BTC ($ 40.5 million) were stolen.

Another potentially negative factor for the price of Bitcoin could be the upcoming IEO of the Bitfinex exchange, where Tether stablecoins will be used to purchase LEO tokens for $ 1 billion. It can lead to situation when large players can may actively sell BTC.