Bitcoin ATMs are now getting harder to own in Germany

[Jaafar Fahad Hassan 114]

Many countries are facing same challenge, but am sure with time they will get approved by the government,am sure the government are one way or the other looking on how to legalize cryptocurrency in almost every natiom

[Saj555 2250]

Bitcoin is giving a hard competition to other currencies and also quite competitive .But it will take a certain time to make it's permanent place.The price is quite high but it's a global way to connect in one platform  of economy. Also the quantity is limited so that there isn't any miscalculation .The banks will slowly  understand it's value in Germany also. 

 

[Guru2050 8284]

This kind of regulations are some of fundamental reasons that are directly or indirectly hindering the rapid growth, adoption of BTC and entire Crypto currencies. But nevertheless they should cooperate with the state regulations service just for the continual of their services.

[lange_marck 40]

yes we hope that they make good laws that promote the use of bitcoin soon and we can reach adoption in Europe like in the USA and in japan...

[Captain Karim 0]

I do not think that this government action will affect the use of Bitcoin or cryptocurrencies in Germany, if we analyze the situation correctly, the German government is doing this to monitor the flow of money into the cryptocurrency market and prevent money laundering, which is very easy in the event that this money reaches the cryptocurrency market....

[its.cryptologic 163]

I can see why they would do this. It is too easy to launder money with BTC ATM's. It would be an anti-laundering proposal, which seems fair.

[TimopheyKa 3900]

Of course, unfortunately, without such transactions, this system is not quite feasible. The point is that the state wants to know whether these ATMs are the right thing to do, and whether they are being used as fraud?! Because, what if those who use this system, they can take your funds. And this is also frightening!

[ShiNorton 906]

Good step from German government  to protect users from the unexpected  money loss through Bitcoin ATMs . It helps company to be more careful. 

[bogdanoff 3173]

It is not harder these are regulations. They require from companies to have a licence and meet the terms and laws of Germany. Basically it is harder for some that can't meet these strict terms but easier for financial institutions that can now access this market legaly.

[Jaafar Fahad Hassan 114]

Yes ,Germany has really did a tremendous effort to launch the cryptocurrency ATM machine, it quite amazing, I hope other countries will develop same effort in making life easy in the cryptocurrency world

[Sykkuno 2887]

Germany is always very strict with laws and they will not allow just anybody run ATM with cryptocurrencies in their country. They are working to make a regulation I think but this will probably not be something to worry anybody, as others will take over what was abandoned and have the means to install and run machines in this country.

[justcryptofan 72]

Governments all around the world are seeking how to regulate the wild crypto space in order not to help people, but rather to get this new digital space under control as they know that this new decentralized blockchain technology posess the real treath to their own power as it is against the nature of the governemt to have independent people who would not obey governemt authority, therefore all countries are establishing new and new regulations how to get new digital world under their control.

[LionVic 52]

Statement says: Proprietary trading is a financial service and financial commission business is a banking business, for which prior approval from BaFin is required. Those who set up such crypto machines that do not have permission from BaFin are acting illegally.

[Jonathan0725 57]

What good news for the crypto world, in Latin America bitcoin ATMs are also beginning to multiply, I think it is a matter of time for it to happen in almost all countries of the world, the growth of bitcoin is imminent.

[Fixfin 2569]

Germany is now allowing banks to offer crypto services so atms were probably regulated too and as with everything germany will not allow anybody to work without following regulations. This is how a country should be run and not without a beginning and an end as many other countries are. They are positive with crypto and this is the most important.

[Asphenix 71]

The fastest, easiest, and generally cheapest way to exchange money is to use an ATM, called Geldautomat in German. They are ubiquitous in German cities and can be accessed 24/7. They are present in UBahn stations, supermarkets, airports, shopping centers, shopping streets, train station.

[khan22 3478]

BTC is not legal at this time in the crypto market but it is going to be legal soon in a short time. Crypto is a great market and it touches the sky in a short time and almost the high is 200,000$ becasue BTC is going down from long time almost from 2017 and till is is down.

[annayks 2314]

Legalizing cryptocurrencies is very important if it happens from Germany but I don't think they should bring many obstacles to businesses that install Bitcoin atm they should be allowed to and not be restricted and they have the knowledge to run them, they need a better chance and not to be excluded.

[Shaza Ahmad 1682]

I do not think that Germany will allow payments to be made in Bitcoin for goods and services because this may reduce some people’s retention of their national currency and direct them towards keeping only Bitcoin, but this step will be very important for a wider acceptance of Bitcoin in Germany in a safe manner.

[Rosarvx 965]

bitcoin ATM will spread more in Germany and other countries in the world, but i hope for all world countries will using cryptocurrency

[kryptonick 2659]

Germany wouldn't allow anyone to offer a financial service like running ATM not matter if this is about Bitcoin. They would place regulations and perhaps allow some that were interested and had enough financial means to do that and not small businesses.

[Razan alikac 1899]

Automated teller machines have spread widely throughout the United States, Europe and Canada, and there are about 28 automatic currency tellers in the largest German cities, and the German authority has imposed a license, and I think this is in order to be under their hands and their control.

[Husnyjaf 1784]

On 9/10/2020 at 9:35 AM, BrolySSJ said:

Germany has been making tremendous efforts lately in order to increase their legal overwatch, and one of these changes, is that bitcoin ATMs now require legal approval before they are able to operate. Therefore in order for a vendor to be able to offer an ATM service that is able to deal in these digital currencies, such as bitcoin, litecoin and so son, there needs to be approval from Germany's financial regulator, BaFin. The need for this license was released in a statement that was given on the 8th of September. 

 

In my opinion, such a venture may be hindering some German business owners who may like to employ bitcoin payments, however it could also be a huge step in the direction of legalizing crypto and making it a mainstream source of payment in Germany. What do you guys think? 

 

The link to the full article is below:

https://www.investing.com/news/cryptocurrency-news/owning-a-bitcoin-atm-is-about-to-get-a-lot-harder-in-germany-2290894

Wow this is awesome to hear. Develop  countries taking steps to do a better and extensive step into the bitcoin world . When the system becomes more clear and simple it will now be introduced all over the world.

[wassim19 645]

Yes, this is a good thing. There are many other countries that may take the same steps in Minya, such as France, but this process is considered a step in order to organize the crypto field, which is difficult for any government agency

[yato987 2811]

as it's hard to follow those who deal with cryptocurrencies , maybe the German governments started to allow people to withdraw their cryptocurrencies through ATMs and then  now they want to apply legal over watch on them to control the movement of crypto in the country , we can't say this is wrong because it's their duty to watch the amount being transferred through their ATMs and in case people don't like this so simply they don't  have to use it and search for other solutions