Learn how Germany will use cryptocurrencies to boost its economic recovery

Learn how Germany will use cryptocurrencies to boost its economic recovery

Germany is about to approve a cryptocurrency-related new law, which hopes to boost its economic recovery. In this article, you will discover all the details. Keep reading and learn all about it!

Germany is about to approve a cryptocurrency-related new law, which hopes to boost its economic recovery. In this article, you will discover all the details. Keep reading and learn all about it!

The more than 4,000 special funds, as they call them, which manage the investments of institutional clients in the country, will be able to invest up to 20 percent of their portfolio in cryptocurrencies, according to new legislation.

Germany is about to approve a cryptocurrency-related new law

Financial institutions, insurance companies and pension funds are also included. This will be a revolutionary step that aims to rule the cryptocurrency world. 

The German parliament passed the legislation last week, according to local media. The parliament or Bundestag, thus passes the legislation to the German federal authorities so that the law is approved as soon as possible at the national level.

The German parliament passed the legislation last week

Sven Hildebrandt, CEO of the consulting firm Distributed Ledger Consulting (DLC), commented to the Decrypt media that this would be a great opportunity for the positioning of cryptocurrencies as an investment vehicle, since among all financial funds in the country they handle the equivalent of $1.8 trillion.

According to the media, there are no equivalents to the Spezialfonds in the United States, but they clarify that they offer a certain type of liquidity, flexibility and diversification, as well as few limitations in the requirements requested from investors in terms of loans and financing.

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