Germany Establishes ‘Federal Bitcoin Association’

Sixty-four members of the Bundestag have founded the ‘Federal Bitcoin Association’. The group will focus on promoting the first cryptocurrency at both national and European levels, as well as creating favorable business conditions.

Gestern haben wir im Bundestag den #Bitcoin-Bundesverband gegründet. ?⚡️

64 Gründungsmitglieder kämpfen nun gemeinsam für ihre Interessen, für finanzielle Bildung und für Bitcoin.

Ich freue mich sehr, Teil des Verbandes zu sein und gratuliere @pjah91 herzlich zur Wahl als… pic.twitter.com/S7s441DXtc

— Joana Cotar (@JoanaCotar) September 27, 2024

The association will offer companies a platform for knowledge exchange, expertise strengthening, community building, and lobbying for Bitcoin as a technology and means of payment.

Any firms, as well as individuals (without voting rights), can become members of the association.

The structure focuses exclusively on digital gold, without addressing other cryptocurrencies and blockchain technologies.

Participants have committed to promoting business-friendly regulations, including tax incentives and support for mining.

“By focusing on the first cryptocurrency and collaborating with political and business circles, we are creating a stable foundation for the further development of the Bitcoin economy in Germany and Europe,” states the organization’s program document.

Back in July, Bundestag member Joana Cotar criticized the authorities for selling Bitcoin. Within a month, the Federal Criminal Police Office of Germany sold 49,858 BTC for €2.6 billion ($2.88 billion).

In September, ForkLog reported on Commerzbank’s plans to offer corporate clients in Germany cryptocurrency trading and custody services in collaboration with Crypto Finance.

A similar initiative is being implemented by DZ Bank in cooperation with Boerse Stuttgart Digital.