Legalization of crypto companies in Germany. Is such a practice possible and why is it beneficial to everyone?
In the current crisis situation in Europe and Germany, it is extremely important to find additional sources of replenishment of the state budget in order to be able to finance social assistance or issue large benefits for food or electricity. However, how to do it? One of the ways to replenish the budget can be the legalization of crypto companies in Germany. Where is the connection?
Legalization of crypto companies in Germany
In the modern world, the crypto industry is already part of the global community. Cryptocurrency is becoming universally recognized every day. It also begins to enter literally into every sphere of life related to finances.
In this regard, some states are already starting to introduce digital assets into the legal field of activity. As an example, the UAE, Switzerland or El Salvador can already issue licenses for the official activities of companies that provide cryptocurrency services.
Why is legalization beneficial to the state?
In order to obtain a license, a company providing crypto services is required to undergo a thorough check by the regulatory authorities of the state. The results of the audit will show: how conscientious the company is and whether it can operate, for example, in Germany. If everything is in order, the company will receive a license. And it can absolutely legally and officially work on the territory of the country.
This means that the crypto company will offer its services to the population of the country, like a regular store or a beauty salon. The company will work in accordance with the laws and regulations of the state: honestly and openly.
And this is extremely beneficial for Germany. The country has all the prerequisites for the moderate and proper regulation of digital assets, and the possibility of obtaining licenses in a conveyor way must be present in the development of a new regulatory project, which may be released in the coming years. This will help the country to receive additional funds from the new industry.
Most likely, it is already possible to obtain a license from the German regulatory authority. But this is an isolated case. However, this practice has not yet been fully regulated and put on a working footing. And this is the most important thing for the full development of this process.
Legalization of crypto companies in Germany: why is it beneficial?
For many people, cryptocurrency is associated with deception. And many do not trust cryptocurrency companies because they think they are illegal. And also people are extremely afraid of being deceived.
Having received a license, a crypto project proves that it wants to work legally, transparently and openly. It is not a scam company that wants to cash in on gullible users. He wants to get big new markets and cooperate with different states around the world in order to reach an ever larger audience.
If the company receives a license, then the population of the country and the whole world begins to trust it. After all, it has been tested by the state. And the state trusts her, which means everything is safe. So the company opens up new markets and a large number of new customers. That is why such cooperation is beneficial for everyone.