CandleFocus BaFin and ECB approve Germany’s DekaBank for crypto custody
2024-12-22
Author: Content Editor
DekaBank, a traditional German bank, has obtained a crypto custody license from BaFin and the European Central Bank. This license falls under traditional banking regulations, giving DekaBank and Commerzbank a level of legitimacy that smaller crypto firms do not have. DekaBank also obtained a license to operate as a crypto securities registrar, allowing it to issue blockchain-based digital securities without a central securities depository. Germany's slow but steady approach to crypto regulation has made it a heavyweight in the European crypto scene. The market in Germany is active, with a significant number of investors allocating a large portion of their portfolios to digital assets. Security concerns remain a top consideration for investors.
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