I just received an email from bitcoin.de: they're stating that due to new regulations they have to become a bank by doing a fusion with one. They chose futurm Bank AG.
The background of this is new European regulation that allows only banks to offer cryptocurrency-related services. Yes, you've heard right: "only". The mainstream crypto news outlets have mainly reported this as a good thing when it came out: "European Banks allowed to offer cryptocurrency services, yay!". They somehow fail to see this is a power-grab (classic "regulatory capture"): Now you need a banking license to offer crypto services and if you're just a normal dude or company: you can't offer those services.
Am I the only one that finds this development at least greatly concerning?
What is the impact going to be?
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source https://www.reddit.com/r/btc/comments/j3pmzt/bitcoinde_germanys_ebay_for_bitcoin_a_platform/
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