Bitcoin began as the enemy of the banks, a new tool to bring traditional finance to a halt. However, as the cryptocurrency permeated the mainstream, it has become clear that the path for Bitcoin adoption is through financial regulation. But, does that mean that this decentralized digital asset can become the savior of the banks?
A bill in Germany, having successfully passed through the Bundestag, the German federal parliament, is suggesting that traditional banks should buy, hold, sell and trade cryptocurrency. This could be a big step in helping struggling banks resurrect themselves.Read here for the full newsFor so many years, banks think that Bitcoin and other cryptocurrencies are their enemies and the biggest threats of the financial ecosystem. Lots of them aren't allowing crypto companies to open bank accounts, or even existing ones are being forced to close their accounts.
Crypto banks are on the rise, slowly but surely. Now that people are slowly transitioning to put their money in Bitcoin and other cryptocurrencies than in banks, it is clear that this is the future and no one can stop it. If these banks are still against it, they would be left behind.
But good thing that there are other banks who embraced Bitcoin, cryptocurrencies and blockchain.
As the old movie saying goes,
"Either you're with us, or against us!"