Europe lags in the recognition of cryptocurrencies, because relevant legislation is still there. Cryptocurrency in the Old world are forced to exist in a rather hostile environment: banks turn away from them because of the imposed limitations.
However, although the situation in General leaves much to be desired, some of the member States of the European Union are doing a lot to support digital assets.
To cite two examples: the German company Börse Stuttgart (Stuttgart stock exchange) addressed to cryptocurrency trading, and in Switzerland, successfully developing cryptocurrency ecosystem SIX. These two projects can play a significant role in the formation of a European cryptocurrency sphere.
The second largest stock exchange in Germany and the ninth in Europe, Börse Stuttgart is developing crypto-currency brokerage application BISON, as well as the crypto currency exchange that will work with the cryptocurrency and licenzirovanie securities.
This project is of particular interest because the exchange is working together with the German regulator. It is expected that the application and the market shortly will be available from banks as regulated entities.
Many analysts believe that, with the support of the regulator, Börse Stuttgart will be performing in Germany in the role of a trusted Depository service for all cryptocurrency, and will also be able to get big money from retail and institutional investors.
Swiss exchange SIX hatching similar plans. Major Swiss banks act as shareholders. This means that as soon as the exchange begins its activities, all the major banks and the regulator will take part in it and major investment.
Now, the cryptocurrency community has placed high hopes on ETF. Undoubtedly, these instruments will give investors greater access to cryptocurrencies, but two of the project described above (and similar) will connect the financial infrastructure of the cryptocurrency world.
There are other examples of the progress of the cryptocurrency sector in Europe. Recently, the stock exchange of Gibraltar has announced the launch of the exchange of digital currencies designed to attract European institutional investors. Gibraltar, creating comfortable and adjustable platform, aims to become a safe haven for cryptocurrency and ICO projects.
In July, the German solarisBank announced that it will offer a new banking platform for European companies that work with cryptocurrency. The organization’s representatives reported that licenses were required.
It seems that in France the cryptocurrency business is booming. In July, the Treasury acknowledged the risks associated with the ICO, but said that will handle the legislation, is able to balance innovation and the “toxic” investments.
There is every reason to believe that cryptocurrencies will soon become a factor of everyday life of Europeans, considering how many steps done in this direction.
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