Crypto News From the German-Speaking World: Aug. 24-31 in Review

Swiss crypto banks receive licenses from a financial regulatorTwo Swiss crypto-specializing organizations, Seba Crypto AG and Sygnum, received banking and securities dealer licenses from the Swiss Financial Market Supervisory Authority, the banks announced in separate statements on Aug. 26.With the new license, Seba expects to officially launch its new trading platform early in October 2019, the company stated.

German Cabinet and Bundesbank are in close communication on CBDC issuesThe Cabinet of Germany and central bank Deutsche Bundesbank are working together closely on issues related to central bank digital currencies.

On Aug. 29, Germany's federal parliament published official feedback to a request from the Free Democratic Party, which asked the Cabinet to respond to six questions related to CBDCs in July 2019.In the document, dated Aug. 16, the Cabinet answered all of these questions, citing major reports and surveys in the space, including a January report by the Bank of International Settlements.

For Libra, as with other cryptocurrency-related activities, the Bank Act, the Financial Market Infrastructure Act and the Anti-Money Laundering Act lay down general rules that may require banking and payment system licenses from the FINMA.President of Bundesbank: Facebook Libra does not make central banks redundantPresident of German Bundesbank Jens Weidmann sees no danger to the central banks' independence in Facebook's Libra.

"For Libra, the key question for me as a central banker is what impact such a private digital means of payment would have on monetary policy, financial stability, and payments, if it were widespread.".

Swiss bank Swissquote launches Robo-Advisor for cryptosystemsSwiss online bank Swissquote now offers a so-called Robo-Advisor for automatic crypto investment management.

Bitwala launches all-in-one mobile Bitcoin bank app.

On Aug. 29, German blockchain-based banking startup Bitwala announced the launch of its smartphone app for Bitcoin banking on iOS and Android.

Customers in over 30 European countries can now open a German bank account with an integrated Bitcoin wallet and trading.

"Once you have an account, you can seamlessly integrate your daily banking activities - whether in Bitcoin or Euro - into your everyday life."