Cryptocurrency acceptance is expanding in Germany, particularly among younger investors, whereas Britain is slowly falling behind primarily because of delayed regulations, according to CoinShares digital asset researcher Luke Nolan.
German crypto integration is demonstrating “very excellent progress” via “family offices, wealth managers, individual advisors” and younger demographics seeking to deploy inherited wealth into digital currencies, Nolan informed Cointelegraph on Thursday’s Chain Reaction show.
Conversely, the UK remains “still quite far behind,” Nolan noted, mentioning that the nation’s Financial Conduct Authority (FCA) only reversed its prohibition on cryptocurrency exchange-traded products less than a year ago, rendering its digital asset marketplace “infant-stage.” The regulatory body previously barred these financial instruments from retail investors in January 2021.
Germany features 89 licensed crypto-asset service providers, representing 25.5% of companies listed on the European Securities and Markets Authority’s (ESMA) Markets in Crypto Assets (MiCA) directory, as refreshed on Wednesday. Europe’s largest economy also stood as the bloc’s frontrunner regarding MiCA authorizations in June, boasting 57 approved crypto entities.
Source: Cointelegraph
Leading German banks are venturing into crypto
This mainstreaming wave has not gone unnoticed by top-tier German financial institutions.
The nation’s biggest lender, Deutsche Bank, disclosed on Wednesday that it awaited regulatory clearance to introduce digital asset custody services for institutional clients across Europe, anticipating a license in October.
Back in April 2024, Germany’s premier federal bank, Landesbank Baden-Württemberg, began providing cryptocurrency safekeeping services after teaming up with Austria-headquartered Bitpanda for its institutional custody framework.
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Meanwhile across Britain, the FCA on Wednesday released definitive instructions detailing when cryptocurrency operations might demand authorization beneath the country’s upcoming regulatory framework.
The regulatory authority will launch licensing submissions on Sept. 30, establishing a Feb. 28, 2027 deadline for organizations pursuing transitional accommodations ahead of the fresh regime activating on Oct. 25, 2027.
On Thursday, the FCA reported that it dispatched a cease-and-desist warning to three London properties suspected of hosting unauthorized peer-to-peer crypto transactions.
The UK Parliament sanctioned rules placing digital assets under the FCA’s supervisory mandate in February and finalized a suite of directives and guidelines in June.
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Originally published at https://cointelegraph.com/news/crypto-adoption-blooming-germany-uk-behind-researcher?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound.