40 licensed banks in Germany have applied for cryptocurrency custody and services

According to Trustnodes, recently a local German document showed that 40 licensed banks have applied for cryptocurrency custody and services. The EU ’s fifth anti-money laundering directive (AMLD5), which went into effect on January 1 this year, includes crypto services after the update, and in the process allows banks to treat Bitcoin or Ethereum as stocks or bonds to provide similar services. The same applies to more widely defined crypto tokens. This means that banks can now offer the buying and selling and storage of tokens such as Bitcoin and Ethereum or MKR. German Parliament Member Frank Schaffler said, "The high demand for crypto hosting licenses indicates that companies are increasingly adopting blockchain technology, which is also the result of new regulations."