Main page News, Fintech, Bitcoin, Germany, Crypto Market, Cryptocurrency, Regulations
Hot topic
Aug. 3, 2019
231 231

Bitcoin payment service provider BitPay has stopped offering its services to clients from Germany to comply with all mandated federal and local regulations.

According to the official statement on BitPay's Support Center, currently, the provider cannot service merchants or users that are based in the following countries: Algeria, Bangladesh, Bolivia, Cambodia, Ecuador, Egypt, Germany, Indonesia, Iraq, Kyrgyzstan, Morocco, Nepal, and Vietnam.

Even though Burkhard Balz, a Member of the Executive Board of Germany's central bank, Deutsche Bundesbank, issued a statement in which he made clear that cryptocurrencies at the moment "do not pose any risk to monetary or financial stability," it seems that BitPay still has some doubts whether it should obtain a license to operate in Germany.

Earlier this year, BitPay announced the maintenance of strong performance throughout 2018. It was the second consecutive year the service processed more than $1 billion in payments, regardless of the market’s slowdown.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news

Read also:
Please describe the error