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Germany approves legislation to regulate emerging asset classes

Thursday 8 July 2021 14:04 CET | News

The German Bundesrat has approved a new piece of legislation – The Fund Location Act – which aims to regulate emerging asset classes for Germany’s finance industry.

The new law was first proposed and approved in the Bundestag in April 2021, and with the recent approval in the Bundesrat the bill passed into law. The specifics of the bill grant spezialfonds (special wealth management funds) the legal ability to allocate as much as 20% of their portfolio into crypto assets.

The new law could facilitate an influx of German financial capital into the crypto industry, with some analysts speculating this move will open the door to USD 415 billion in potential investment in cryptocurrencies.


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Keywords: cryptocurrency, investment, Bitcoin
Categories: DeFi & Crypto & Web3
Companies:
Countries: Germany
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DeFi & Crypto & Web3






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