KuCoin conducted a study which revealed that ‘42% of Germans are motivated to invest in Crypto’ highlighting a positive future for Crypto in Germany, one of the richest countries in Europe.
Over the past year many Crypto firms have established themselves in Germany. With Germany being the first country to accept a blockchain strategy and “recognize that Bitcoins are “units of value” and could be classified as a ‘financial instrument,’” according to KuCoin’s report. BaFin, the German regulator, has continued to show its acceptance of Crypto by approving custody licenses, Bitcoin-based security tokens and recently giving permission to N26 to launch Crypto trading in 2022.
It could be said that this is being driven by the younger generation. Johnny Lyu, CEO of KuCoin said “Cryptocurrencies are very popular among the supporters of the accumulation strategy, especially among the younger generation. They prefer to save for retirement on their own and diversify their savings through the use of Cryptocurrencies.”
The study also revealed that there is an increasing number of women interested in Crypto. “69% of Crypto investors are men while women account for 53% of the crypto-curious,” which, according to Döhnert-Breyer, managing director of F5 Crypto, reveals that women are more interested in Crypto Banks rather than Traditional Banks.
With all this consumer interest in Crypto, it is not surprising that the German market is growing and generating exciting opportunities for new hires in Compliance and Financial Crime.
If you are looking for a new Compliance or Financial Crime position within a Cryptocurrency firm or you are looking to hire, please contact Isabel Anchebe our regional expert, who is happy to discuss the current market.
Isabel Anchebe, Senior Associate, Compliance, Danos Associates
Source: Cointelegraph, Almost Half Of Germans To Invest In Crypto Report, March 24 2022