Germany Races Ahead as UK Struggles to Keep Up with Crypto Adoption
Crypto adoption is accelerating in Germany, particularly among younger investors and wealth managers, according to CoinShares researcher Luke Nolan. In contrast, the UK is 'still very much behind' due to lagging regulations, Nolan said.
Germany's crypto market has seen 'very good progress,' with family offices and individual advisors embracing digital assets. The country's largest banks are also venturing into crypto, with Deutsche Bank awaiting regulatory approval to launch custody solutions for institutional clients in Europe by October.
The UK's Financial Conduct Authority (FCA) only lifted its ban on crypto exchange-traded products less than a year ago and is still working on implementing new regulations. The FCA recently issued final guidance outlining when crypto activities may require authorization under the country's incoming regulatory regime.