First Crypto Custody company in Germany

Just last year the German regulator proposed a legislation that will enable companies to carry out crypto custody services. But this won’t be possible without a BaFin approval first. BaFin is German’s Federal Financial Supervisory Authority.

Fortunately for Coinbase , BaFin gave the crypto exchange full crypto custody to carry out crypto related business in the country. This just made Coinbase the first company to be authorized crypto custody service in German. Due to cryptocurrency being a new type of investment, BaFin created a special interdisciplinary, cross-divisional group that will supervise any issues identified with crypto care business

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