German Regulator Says Banks Are Not Too Interested in Cryptos

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According to the BaFin president, Mark Branson, the interest of German banks in offering cryptocurrency trading to customers appears to be limited, as institutions have only received four digital asset holding licenses from the regulator.

Another fourteen financial institutions, including Commerzbank, have temporary permission to provide custodial services for cryptocurrencies.

Branson has said that blockchain technology needs to stop being just “promising”, and it’s time to become “efficient and scalable”.

He has added:

“Not all business models in the industry are serious. Waves of innovation, as we know, also bring freeloaders and scammers with them.”