Germany’s Largest Federal Bank To Offer Crypto Custody Services
The Landesbank Baden-Württemberg, the largest federal bank in Germany, will reportedly start providing cryptocurrency custody solutions in the second half of 2024. In collaboration with Bitpanda, an Austrian cryptocurrency exchange, the bank will deliver crypto custody services to institutional customers. Managing director of corporate banking at Landesbank Baden-Württemberg, Jürgen Harengel, told Bloomberg that the German […]
EU AMLA to Establish HQ in Frankfurt Germany
Frankfurt, the financial metropolis of Germany, will serve as the headquarters (HQ) of the new Anti-Money Laundering Authority (AMLA) of the European Union. The organization will commence operations by the middle of 2025. Operating across borders or deemed high-risk, the AMLA will have the authority to regulate “high-risk and cross-border financial entities,” which includes cryptocurrency […]
Microsoft to Invest €3B in AI, Cloud Development in Germany
Brad Smith, vice chairman and president of Microsoft, unveiled the financing arrangement on February 15 during an event in the capital of Germany dedicated to the company’s future collaborations in cloud development and artificial intelligence (AI). Microsoft will concentrate on constructing new data centers nationwide and educating individuals on developing AI capabilities. As per a […]
Germany Seizes 50K BTC Connected to Piracy Websites
As a component of an inquiry into copyright infringements, authorities in the German state of Saxony purportedly seized approximately 50,000 Bitcoin earned from piracy websites. The Saxony police announced on January 30 that they collaborated with tax authorities and prosecutors to seize the Bitcoin, allegedly associated with two Polish and German nationals. As per the […]
German Banking Giant Commerzbank Granted Crypto Custody License
Commerzbank has made a significant stride in the digital asset sector by becoming the first German full-service bank to receive a Crypto Custody License. The fourth-biggest bank in Germany, Commerzbank AG, has been granted a regulatory custody license for cryptocurrency. Commerzbank is now the first full-service bank in Germany to hold this kind of license, […]