Currently, only El Salvador and the Central African Republic have legalized the use of bitcoin (BTC) as a currency in their respective territories. Will Germany be next? A parliamentarian from the Bundestag strongly wishes this and visibly wants to work to make this crypto ambition a reality.
A German MP pleads for the legalization of the queen of cryptos
Joana Cotar, a prominent German parliamentarian, has initiated a project to make bitcoin (BTC) a legally recognized currency in Germany. The MP’s approach is not only innovative. It is also unique in terms of strategy.
Indeed, Joana Cotar has undertaken a comprehensive legal assessment aimed at developing a solid framework that recognizes the legitimacy of the flagship crypto. This, while also addressing essential issues such as legal certainty, money laundering and tax fraud.
The heart of its strategy is to differentiate BTC from other cryptos. This, with emphasis on its unique features and benefits. In particular, confidentiality and transactional security.
And to defend this cause, the parliamentarian has an idea: to enlighten her fellow politicians on the potential of the queen of cryptos. This is, to say the least, the objective of the campaign “Bitcoin in the Bundestag”, which she launched recently.
Beyond advocacy…
This legislative initiative around bitcoin (BTC) is not limited to simple advocacy. Indeed, Joana Cotar plans to form a team linked to her project. A parliamentary committee dedicated to studying the nuances that distinguish bitcoin from its crypto counterparts should thus see the light of day.
This commission will have the essential mission of conducting an in-depth investigation into the specific characteristics and functionalities of the Bitcoin network. Which she hopes will pave the way for formal legal recognition of the flagship crypto.
Joana Cotar’s determination to legitimize the latter is not without consequences. It positions Germany at the forefront of nations actively embracing the potential of cryptos. This, in a context of deliberations around the impact of digital assets in the financial landscape.
By making the legal recognition of bitcoin her priority, the parliamentarian could create an environment that promotes innovation and financial inclusion. Without forgetting protection against the illicit activities that abound in this industry.
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