The new German Money Laundering Act, which regulates the safekeeping of crypto currencies in a legally secure manner, has barely come into force when interested banks venture out of cover.
The Berlin Solarisbank is one of the first German banks to take the offensive and planning to build up a cryptocurrency custody solution, as the Handelsblatt has learned in advance. The plans are to be officially announced on Wednesday.
The new money laundering law allows banks to offer and keep crypto currencies. From 2020, financial institutions will be able to offer their customers crypto currencies as well as traditional securities such as shares and bonds in legally secure online banking at the touch of a button.
For this purpose, Solarisbank has founded the subsidiary Solaris Digital Assets. In 2020, it will apply to the financial supervisory authority Bafin for one of the newly introduced crypto custody licenses and will then store Bitcoin and other virtual currencies on behalf of customers.
See here for more details [German]: https://www.handelsblatt.com/finanzen/banken-versicherungen/digitalbank-solarisbank-startet-bitcoin-verwahrgeschaeft/25320638.html?ticket=ST-28054101-eK4mas65kDm13Qacgshz-ap6
Submitted December 11, 2019 at 11:19PM by ngt_ http://bit.ly/2P9lJpY
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