Europe as a pioneer: crypto-friendly banks are booming thanks to regulatory innovations

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Europa: Führend bei Krypto-freundlichen Banken Europa hat sich zur globalen Spitzenregion für krypto-freundliche Banken entwickelt. Aktuell bieten zahlreiche Banken in der Region Dienstleistungen im Zusammenhang mit Kryptowährungen an, darunter Verwahrung, Handel und Umwandlungen zwischen Fiat-Währungen und Kryptowährungen. Die Ursache für diesen Aufschwung liegt in der Schaffung eines klaren regulatorischen Rahmens für Kryptowährungen. Der Anstieg von Krypto-freundlichen Banken in Europa Eine Studie von Coincub zeigt, dass bis zu 55 Banken in Europa krypto-relevante Dienstleistungen integriert haben. Deutschland verzeichnete dabei sechs Banken, während im Vereinigten Königreich fünf Banken aktiv sind. Auch Länder wie die Schweiz, Liechtenstein und Litauen haben bemerkenswerte Pionierbanken in …
Europe: Leading at crypto-friendly banks Europe has developed into a global top region for crypto-friendly banks. Numerous banks in the region currently offer services related to cryptocurrencies, including custody, trade and conversions between Fiat currencies and cryptocurrencies. The cause of this upswing lies in the creation of a clear regulatory framework for cryptocurrencies. The increase in crypto-friendly banks in Europe shows a study by Coincub that up to 55 banks have integrated crypto-relevant services in Europe. Germany recorded six banks, while five banks are active in the United Kingdom. Countries such as Switzerland, Liechtenstein and Lithuania also have remarkable pioneer banks in ... (Symbolbild/KNAT)

Europe: Leading at crypto-friendly banks

Europe has developed into a global top region for crypto-friendly banks. Numerous banks in the region currently offer services related to cryptocurrencies, including custody, trade and conversions between Fiat currencies and cryptocurrencies. The cause of this upswing lies in the creation of a clear regulatory framework for cryptocurrencies.

The increase in crypto-friendly banks in Europe

A study by Coincub shows that up to 55 banks have integrated crypto-relevant services in Europe. Germany recorded six banks, while five banks are active in the United Kingdom. Countries such as Switzerland, Liechtenstein and Lithuania have also established remarkable pioneer banks in this area.

The known names include Seba Bank (Switzerland), Bank Frick (Liechtenstein), Fidor Bank (Germany), Solarisbank (Germany), Revolut (UK) and Bankera (Lithuania). These banks facilitate crypto transactions and offer services such as safe custody, staking and asset tokenization. The number of crypto-friendly banks in Europe clearly exceeds the offers in other regions such as Asia and North America.

In the USA, the Office of the Compotroller of the Currency (OCC) recently authorized banks to deal with crypto-related services, especially after the White House crypto summit.

mica frame makes it easier

The growing influence of European banks in the crypto sector is also the result of significant progress in creating a legal framework for cryptocurrencies. The regulation "Markets in Crypto-Assets" (Mica) aims to create a transparent and safe environment for crypto service providers and to encourage the banks to integrate these services.

The Raising reason 6 of the mica regulation states: "A clear framework should enable crypto-asset service providers to expand their business across borders and to facilitate their access to banking services in order to carry out their activities smoothly."

Through this regulatory progress, countries such as Germany, Switzerland and Malta have introduced tax -friendly policies and regulations. For example, Germany applies a tax rate of 0 percent to long-term crypto profits. Digital banks such as N26, Revolut and Fidor quickly accept the crypto trend to win modern customers, and often offer more flexible solutions than traditional US banks that are limited by strict regulations.

challenges and the future of the crypto-friendly banks

Despite the leading role of Europe, there are challenges. Course volatility, fraud and strict requirements in terms of anti-money laundering (AML) and Know-YOUR-CUSTOMER (KYC) remain considerable hurdles for European banks.

With the upcoming complete entry into force of the Mica framework, Europe is well positioned to maintain its dominance in this area. However, the introduction of cryptocurrency regulations in Asia could endanger Europe's market leadership. In order to secure your own position, Europe must continue, harmonize regulations and consistently tackle potential risks.

Overall, the development on the European market for crypto-friendly banks shows that the region could play a central role in the future of financial services.