Crypto News From the German-Speaking World: Sept. 2-8 in Review

Published on by Cointele | Published on

The German-speaking world continues to see lots of developments in the crypto industry, with the German government clarifying proposed regulations, Switzerland adding a new blockchain hub, while Bitcoin-scammers are using Austrian celebrities in fake crypto ads.

Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph auf Deutsch.

German government explains proposed regulations for crypto wallets and exchanges.

Cointelegraph auf Deutsch reported on Sept. 3, that, in reply to a request by the Free Democratic Party, the German Federal Government announced further details on planned regulations for cryptocurrency exchanges and wallet providers.

The government states that crypto firms will be subject to regulatory requirements under the country's banking act.

Per the regulator, the firm did not have the necessary licenses to conduct business in CFDs.Swiss canton of Schwyz intends to become a new blockchain hub.

The Swiss canton of Schwyz, together with service provider Blockchain Propulsion, intends to become a new blockchain hub, much like the Crypto Valley in Zug.

A newly founded Propulsion Hub in the canton aims to support the blockchain ecosystem in Switzerland.

Blockchain Propulsion opened its doors in in Pfäffikon, which is the economic center of the canton of Schwyz with the lowest tax burden for companies and individuals.

On Sept. 5, the IOTA Foundation - a non-profit organization for blockchain development - published its 19-page study "Towards Open & Transparent Cities" which shares IOTA's perspectives on the current concepts for smart city projects and the future challenges in which IOTA could play a major role.

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