Germany’s Federal Financial Supervisory Authority (BaFin) has seized 13 unauthorized cryptocurrency ATMs in a nationwide operation involving 60 officers and raids on 35 locations. BaFin reported that the machines facilitated illegal transactions and posed money laundering risks. Under German law, trading currencies, including cryptocurrencies, without proper authorization is illegal, with violators facing up to five…
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Joachim Nagel, President of the Deutsche Bundesbank, praised the privacy traits a hypothetical upcoming digital euro would possess. During a speech, Nagel specified that the Eurosystem would have “no interest” in monitoring the payments and expenses of digital euro users and would not be able to identify them based on their payments. Deutsche Bundesbank President…
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Executives at the Deutsche Bundesbank are eager to launch a blockchain-based system without the need for a CBDC — and they just might succeed. Germany’s federal bank, the Deutsche Bundesbank, has run successful tests on a project which bridges the traditional finance infrastructure with blockchain technology. Despite the current global rush by central banks to…
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Before trying to apply blockchain to anything, think why. Retail central bank digital currencies, or CBDCs, do not require the use of blockchain technology, according to executives at major European central banks. Thomas Moser, an alternate member of the governing board at Swiss National Bank, and Deutsche Bundesbank’s Martin Diehl discussed the state of CBDCs at…
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