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Germany’s New Crypto Law Comes Into Effect on August 2

CryptocurrencyAug 01, 2021 07:30AM ET
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Germany’s New Crypto Law Comes Into Effect on August 2

  • Germany enables institutional investors to hold crypto.
  • This move could lead to accepting Bitcoin and altcoins within the country’s pension funds.
  • The country will see further enhancements in the crypto and blockchain sectors in the future.

The latest German law governing German Spezialfonds goes into effect from August 2, 2021, onwards. This initiative could bring a huge influx of about $415 billion worth of investments via cryptocurrencies.

In detail, this law will enable German institutional funds to hold up to about 20% of their assets in terms of cryptocurrencies. This move, in turn, could lead to a possible open stage for mainstream Bitcoin (BTC) adoption in the country.

Specifically, the law changes the preceding investment rules surrounding Specialfonds (Special funds). Moreover, this law is accessible to institutional investors such as insurers and pension funds. At the moment, Specialfonds manages around $2.1 trillion (1.8 trillion euros) in assets.

In particular, this ...

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Germany’s New Crypto Law Comes Into Effect on August 2
 

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