Germany's licensed crypto institutions are expanding; the UK's new regulatory regime will take effect in 2027 year
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AT A GLANCE
Luke Nolan said that crypto adoption in Germany is progressing well, while the UK remains comparatively behind due to regulatory delays.
Article
【CoinShares Researcher: Germany Is Making Strong Progress in Crypto Adoption, While the UK Has Fallen Behind】
CoinShares crypto researcher Luke Nolan said on the Chain Reaction program that crypto adoption in Germany is making “very good progress” through family offices, wealth-management firms, and younger investors, whereas the UK “remains far behind,” largely due to regulatory delays. Nolan noted that the UK Financial Conduct Authority (FCA) lifted its ban on crypto exchange-traded products less than 1 ago, and its digital-asset market remains in a “nascent” stage.
In related data, Germany currently has 89 licensed crypto-asset service providers, accounting for ESMA）MiCA of firms registered with the European Securities and Markets Authority (25.5%); this year,June, Germany also ranked first in the EU with 57 authorized crypto firms. Meanwhile, Deutsche Bank said on Wednesday that it is awaiting regulatory approval and plans to launch crypto custody services for institutional clients in Europe, expecting to obtain a license October; Landesbank Baden-Württemberg also began offering crypto custody services through a partnership with Bitpanda in 2024 year April.
By comparison,FCA issued final guidance on Wednesday clarifying when crypto activities require authorization, and plans to open license applications in September 30, with the new regime taking effect in October 25, 2027. In addition,FCA sent cease-and-desist letters on Thursday to London locations suspected of facilitating illicit peer-to-peer crypto transactions; the UK Parliament approved regulations in February to bring digital assets within the FCA regulatory perimeter, and finalized a package of rules in June.
Key points
01
CoinShares crypto researcher Luke Nolan stated on the Chain Reaction program that cryptocurrency adoption in Germany is making “very good progress” through family offices, wealth management firms, and younger investors.
02
Nolan stated that the UK “is still very far behind,” largely due to regulatory delays, and that its digital asset market remains at a “nascent” stage.
03
Germany currently has 89 licensed crypto-asset service providers, accounting for ESMA MiCA of registered companies 25.5%。
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this year June, Germany ranks first in the EU with 57 authorized crypto companies.
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Deutsche Bank said it is awaiting regulatory approval and plans to launch crypto custody services for institutional clients in Europe, expecting October to obtain a license.
06
Landesbank Baden-Württemberg will 2024 year April provide crypto custody services through a partnership with Bitpanda.
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FCA to publish final guidance clarifying when crypto activities require authorization, and plans to September 30 open license applications; the new regime will October 25, 2027 take effect.
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FCA Issued cease-and-desist letters to London locations suspected of facilitating illegal peer-to-peer crypto transactions.
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The UK Parliament has February approved regulations bringing digital assets within the scope of FCA regulation, and will June finalize a package of rules.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
The news states that Germany already has a relatively large number of licensed crypto service providers, with some banks also advancing custody services; the UK is still establishing its authorization and regulatory framework.
Why it matters to readers
The number of licensed institutions, banks’ custody initiatives, and progress in regulatory frameworks may reflect differences in compliance infrastructure between the German and UK crypto markets.
Beginners can monitor whether providers are licensed, whether custody services have been approved, and when new regulatory frameworks will take effect; this information relates to platform compliance, but does not represent investment safety or returns.
Risks and unknowns
Relative time references such as “this year,” “Wednesday,” “Thursday,” and “less than 1 years ago” cannot be assigned specific dates based on the text alone.
The text does not specify the statistical methodology or source-data link for the figures of 89 entities, 25.5% entities, and 57 entities.
Deutsche Bank’s custody plan is still awaiting regulatory approval, and the expected timing for obtaining a license is not certain.
Nolan’s assessment of the pace of adoption in the two countries is a personal opinion; the text does not provide a uniform basis for comparison.
FCA The London locations in question are described only as “suspected” of facilitating illegal transactions; the text does not provide the final outcome of the investigation or adjudication.
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Family Office
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