German watchdog orders Worldcoin to delete non-compliant data

December 19, 2024 Coin Telegraph

Anonymity

German regulators demand compliance changes from World ID after a biometric data investigation.

Update (Dec. 19 and 15:12 UTC): This article has been updated to clarify that, in May 2024, Worldcoin deleted all data from its old iris code to comply with local regulations.

German data protection authority, the Bavarian State Office for Data Protection Supervision (BayLDA), has issued corrective measures for the digital identity project World, formerly known as Worldcoin, over its handling of biometric data.

The BayLDA announced on Dec. 19 that it had concluded its investigation into World’s compliance with the European Union’s General Data Protection Regulation (GDPR).

Crypto industry skeptical of memecoin promoted on Trump’s social media

German Government Collapses, Plunging Economy Into Unprecedented Uncertainty

November 8, 2024 Bitcoin.com

bitcoin.com

Germany’s economic troubles deepen as the ruling coalition disintegrates, exacerbating issues like shrinking investment and consumer confidence. Chancellor Olaf Scholz dismissed Finance Minister Christian Lindner, signaling a potential snap election. Germany’s economy, already struggling with high energy costs and lagging EU growth since 2018, is expected to contract for a second consecutive year, making it […]

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Boerse Stuttgart Unveils Insured Ethereum Staking on Bison Platform

October 9, 2024 Bitcoin.com

BaFin

European exchange group Boerse Stuttgart has announced a major step into Ethereum staking, offering users a secure, insured way to earn passive income through its Bison trading platform. By partnering with top German firms, Bison enables staking for as little as 0.005 ETH with weekly rewards. The service, currently only in Germany, promises annual returns […]

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Commerzbank Partners With Deutsche Börse’s Crypto Finance to Expand Crypto Services

September 20, 2024 Bitcoin.com

Bitcoin

Commerzbank, one of Germany’s largest banks, has partnered with Deutsche Börse subsidiary Crypto Finance to offer secure bitcoin and ether services to its corporate clients. The collaboration focuses on seamless trading and custody solutions, ensuring regulated access to digital assets for select clients in Germany. This marks an important step towards broadening institutional crypto services […]

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Boerse Stuttgart Digital, DZ Bank Expand Crypto Access to 700 German Banks

September 20, 2024 Bitcoin.com

bitcoin.com

Boerse Stuttgart Digital is collaborating with DZ Bank to bring secure cryptocurrency trading and storage to over 700 cooperative banks across Germany. The move marks a significant step toward mainstream crypto adoption in Europe, with banks now offering regulated crypto services to retail customers. This collaboration will help meet the growing demand for digital assets, […]

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German Authorities Shut Down 47 Crypto Exchange Services in Cybercrime Crackdown

September 20, 2024 Bitcoin.com

bitcoin.com

German authorities have dismantled 47 exchange services involved in facilitating anonymous crypto transactions for criminal activities. These platforms bypassed anti-money laundering protocols, enabling cybercriminals to exchange digital currencies without identity verification. The takedown follows a series of other operations targeting major cybercrime networks. With seized user and transaction data, authorities are set to pursue further […]

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German Authority Seizes 13 Unauthorized Crypto ATMs

August 21, 2024 Bitcoin.com

ATMs

Germany’s Federal Financial Supervisory Authority (BaFin) has seized 13 unauthorized cryptocurrency ATMs in a nationwide operation involving 60 officers and raids on 35 locations. BaFin reported that the machines facilitated illegal transactions and posed money laundering risks. Under German law, trading currencies, including cryptocurrencies, without proper authorization is illegal, with violators facing up to five […]

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German BaFin regulator cracks down on crypto ATMs

August 20, 2024 Coin Telegraph

BaFin

According to Coin ATM Radar, there are currently 38,725 crypto ATMs worldwide, with a vast majority located inside the United States.

Germany’s Federal Financial Supervisory Authority (BaFin) has launched a crackdown on crypto ATMs and seized 13 of these automated cash kiosks from 35 locations, the government regulator announced on Aug. 20.

The German financial regulator conducted the seizures in conjunction with the Federal Criminal Police Office, local law enforcement and Germany’s Bundesbank.

According to the government bureau, the ATM operators “illegally installed” the machines and failed to register them under Section 32 of the Banking Act. BaFin claimed that the exchange of euros to cryptocurrencies or vice versa breached the Banking Act.

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Privacy Concerns Worry Germany About the Possible Implementation of a Digital Euro

August 19, 2024 Bitcoin.com

bitcoin.com

While the European Central Bank is studying the possible issuance of a Europe-wide CBDC, the digital euro, not all Europeans are fully behind this idea. Germany is particularly concerned about the privacy aspects of this implementation, as most transactions and payments are still made using cash, and citizens are reluctant to share their personal information. […]

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Privacy Fears Undermine Support for Digital Euro in Germany

August 18, 2024 Bitcoin.com

bitcoin.com

Skepticism about the digital euro is strong in Germany, especially among older citizens who prioritize privacy and security in financial transactions. Many Germans remain resistant to the idea of a digital currency, with about half unable to imagine using it. Bundesbank President Joachim Nagel has called cash “sacred” in Germany, reflecting deep-rooted concerns about losing […]

Germany

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