German banks showed limited interest in crypto, its financial regulator said, warning of 'freeloaders and crooks' in the sector. By jackschickler
German banks have seen limited interest in handling crypto, the President of Germany’s financial regulator Bafin, said in an interview published Thursday, adding that financial innovation attracted “freeloaders and crooks.”
German is one of the first countries to require banks to hold a license to deal in crypto, but Mark Branson, who also sits on the board of the supervision arm at the European Central Bank , said it has only issued four licenses for crypto custody and 14 provisional permits. “Overall, banks’ interest in offering crypto-asset trading to their customers still seems, to me, to be limited,” Branson said in an interview posted on the, saying that blockchain technology needs to move from being merely “promising” to being “effective and scaleable.”
“Not all crypto business models are serious,” he added. “Waves of innovation, as we know, also bring with them freeloaders and crooks.” Rather than slowing innovation, regulation should be well balanced and flexible to allow sophisticated projects to emerge and reduce financial stability risks, he said.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
FDIC to prioritize crypto risk assessment amid rising interest among banksThe FDIC acting chair highlighted the importance of stablecoins in trading various crypto assets and how federal financial regulators plan to assess related policies carefully.
Lire la suite »
Larry David sued for crypto ad in which he talked crap about cryptoLarry David sued for crypto ad in which he talked crap about crypto, which feels about right
Lire la suite »
FDIC to prioritize crypto risk assessment as banks perform poorly in Q2Banks in the United States are not immune to the current state of the economy. And as they continue to see losses, the FDIC wants to monitor crypto and how banks interact with it.
Lire la suite »
Privacy-Enhancing Crypto Coins Could Be Banned Under Leaked EU PlansSCOOP: Privacy coins like dash and monero could be effectively banned under a leaked EUCouncil money-laundering proposal, the latest in a regulatory onslaught against online privacy. jackschickler reports.
Lire la suite »
Bernstein: The Collapse of Crypto Exchange FTX More Like Enron Than LehmanBernstein says the centralized finance part of the crypto industry is most exposed to the collapse of FTX_Official and Alameda Research, not the entire ecosystem. Reporting by willcanny99. BernsteinBuzz BernsteinGautam
Lire la suite »