Germany took a significant step towards the integration and recognition of bitcoin (BTC) in its political sphere with the creation of the Federal Bitcoin Association in the Bundestag. This organization, promoted by representative Joana Cotar, brings together 64 founding members with the common goal of “fighting for their interests, financial education and for Bitcoin.”
The association, of which Cotar is also a part, focuses on lobbying for directly defend bitcoin companies in Germany. “We represent the interests of our member companies vis-à-vis politicians, mainly in Germany and Brussels (European Parliament and European Commission),” the letter reads. official website of the association.
This approach also seeks to facilitate a direct exchange between companies and politicians. “We allow our members to have direct contact with policy makers. “So far, bitcoin companies have no place at the negotiating table, even if the laws directly affect them,” the organization added.
In addition to its role in politics, the association is committed to “promoting technical innovation in the Bitcoin ecosystem.” Supporting research projects and collaborating with developersseeks to promote technological advancement around the peer-to-peer payment network. It also offers “educational opportunities to improve understanding of bitcoin in politics, science, industry and society.”
The creation of this association occurs in a recent context in which the German authorities have taken action against the cryptocurrency sector, such as the closure of 47 bitcoin exchanges for alleged financial crimes, as reported by CriptoNoticias. This event marks a contrast with the association’s initiative, which seeks to legitimize and position BTC within the German legal and business framework.
Germany’s Bundestag already has a history with Bitcoin thanks to Deputy Cotar, who has been a prominent voice in the defense of this digital currency. His work has been highlighted for his activism and advocacy within parliament, as previously reported in this medium. This new step with the Federal Bitcoin association in the Bundestag further strengthens this presence.
In the financial sphere, Germany has also seen its banking giants open up to the world of cryptocurrencies. Major financial institutions have begun to offer services for bitcoin and other crypto assetsreflecting a trend towards the adoption and normalization of digital assets in the country.
The creation of the Federal Bitcoin Association in the Bundestag is a milestone for the digital currency community in Germany and also signals a growing acceptance and understanding of cryptocurrencies in one of the most influential markets in Europe.
This article was created using artificial intelligence and edited by a human Editor.