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2020-04-07 16:02

Germany’s Crypto Custody Law Hits a Snag: Startups Can’t Get Bank Accounts


While more than 40 banks have reportedly expressed interest in Germany’s new crypto custody license, those firms may still have to put up with an anti-crypto sentiment among German banks. “If you try to open a bank account for a company that is in the space, you are working with the institutional banking arm of that bank,” said Stijn Vander Straeten, CEO of Crypto Storage AG.  German bankers are risk-averse, and crypto companies aren’t making them money by asking for checking accounts. In November, Switzerland-based Crypto Storage AG, a subsidiary of Crypto Finance AG, opened a German branch in downtown

The post Germany’s Crypto Custody Law Hits a Snag: Startups Can’t Get Bank Accounts appeared first on One Crypto News.



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