Express
Germany's New Legislation Allows Institutional Funds To Invest In Cryptocurrencies
Summary: According to Decrypt, Germany's new legislation will enable managers of the most popular institutional funds to allocate 20% of their assets to cryptocurrencies. The new regulation, which passed in the German Bundestag last Thursday and will take effect on July 1, is an important step to increase crypto adoption, German Parliament member Frank Schäffler said. The ...
According to Decrypt, Germany's new legislation will enable managers of the most popular institutional funds to allocate 20% of their assets to cryptocurrencies.
The new regulation, which passed in the German Bundestag last Thursday and will take effect on July 1, is an important step to increase crypto adoption, German Parliament member Frank Schäffler said.
The law applies to both existing "Spezialfonds" in Germany and new institutions established by institutional investors (such as financial institutions, insurance companies, and pension funds).
Sven Hildebrandt, CEO of the German-based distributed ledger consulting company, said that there are currently about 4,000 investment funds that will be eligible to invest in Bitcoin or other crypto assets.
BY Mary Liu
Tags: Cryptocurrency,Germany,Institutional
Link: Germany's New Legislation Allows Institutional Funds To Invest In Cryptocurrencies [Copy]
