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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