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  • 01 Oct 24

The mayhem of the German crypto sector has yielded unexpected results

In early September, German security services shut down a huge number of local crypto-businesses. In response, there was a self-organization of the crypto community and the creation of a legal lobby.

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The German parliament announced the creation of the «Federal Bitcoin Association» — the organization currently has 64 founding members.

This short news has a very interesting backstory, without which it is impossible to understand it. Let’s quote it from the news feeds of a week ago:

The German Federal Criminal Police Office (BKA) has discovered and seized the working and backup servers of 47 illegal cryptocurrency exchanges. The operators of the services are accused of deliberately concealing the origin of criminally obtained funds on a large scale.
Now the general composition of the situation becomes clear. After the mayhem of the German crypto business, it took the rich crypto holders of German nationality a little more than a week to assemble the «Federal Bitcoin Association», which became very vividly involved in the political life of Germany. The case perfectly shows that it is possible and necessary to fight for one’s interests, and the German degens have demonstrated a perfect example of civic self-organization.
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