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Germany OneCoin [1st] License Exchange Analysis



Germany OneCoin

Hello everyone! today in this article I am going to analyze Germany OneCoin 1st License exchange news. People are talking about OneCoin going to be the first License exchange in Germany. What is the truth behind this, we will see?

Germany is quite strict about its virtual currency policies. Because the cryptocurrency market is very unstable and there are so many risks of scam and money laundering.

But every problem has its solution. The same thing happened in Germany. Let’s see the below statement and discuss it further.

On November 29, 2019, the German Parliament passed a bill which amends an existing anti-money laundering directive to allow German banks to both sell and store cryptocurrencies. The new law will take effect January 1, 2020, though certain requirements must first be met through the country’s financial regulator.

On 29th November 2019, Germany passed a bill regarding the regulation of cryptocurrencies. And this bill will be effective after 1 January 2020.

Source: Google Screen

OneCoin Germany

According to this rule, German banks are authorized to sell and hold the cryptocurrency. This is really a piece of great news for every crypto lover.

Let’s see its connection with OneCoin cryptocurrency and it’s exchange launch. Firstly, I want to clarify that there is no official announcement of the OneCoin exchange launch to the current date.

As per the new Germany law, only license cryptocurrencies can do business in Germany. Or they should work with the German cryptocurrency provider.

OneCoin applied for a license in early 2019. And OneCoin will be the first company that will get cryptocurrency license approval for Germany. Because they apply at the beginning of 2019, while other companies were not aware of this.

And the source says that OneCoin got legal status in Germany. If the exchange will be launched before 1st January 2020. Then OneCoin will be the first licensed exchange in Germany.

If OneCoin exchange will be launched before any other company license. Then the statement “OneCoin Germany First License Exchange” will become true.