DZ Bank’s Official Entry into the Crypto Market

Thanks to the MiCAR approval granted by BaFin, DZ Bank will be able to operate under crypto regulations that are valid across the European Union. This authorization also paves the way for member banks within the cooperative banking group to offer crypto trading services to their retail customers. According to DZ Bank’s statement, the “meinKrypto” platform will be launched soon and will initially support a limited number of crypto assets.

The crypto assets supported in the first phase have been announced as follows:

• Bitcoin (BTC)
• Ethereum (ETH)
• Litecoin (LTC)
• Cardano (ADA)

The service will be offered on an optional basis by cooperative banks. Each bank will decide independently, based on its own strategy, whether to make this solution available to its customers.

Technical Infrastructure and Security Details

The “meinKrypto” platform was developed jointly by DZ Bank and Atruvia, the IT service provider of the cooperative financial group. The technical setup is structured as follows:

• Custody service: Boerse Stuttgart Digital
• Trading infrastructure: EUWAX AG
• Usage method: Wallet integrated into the VR Banking App

The platform will be available exclusively to self-directed retail investors and will not be offered as part of personalized investment advisory services. DZ Bank emphasized that the MiCAR regulation, which provides a unified legal framework for crypto assets across the European Union, establishes clear and secure rules for financial institutions. It was also noted that cooperative banks wishing to use “meinKrypto” must submit a separate MiCAR notification to BaFin.

A New Era for Banking and Crypto in Germany

According to a study published by Genoverband in September 2025, more than one-third of cooperative banks in Germany plan to implement this crypto solution in the near future. This outlook indicates that traditional banking and crypto assets will become increasingly integrated in Germany. DZ Bank’s receipt of MiCAR authorization to establish a crypto platform stands out as a significant milestone in European banks’ approach to digital assets.

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AfD Pushes for a Strategic Bitcoin Reserve

On October 29, AfD submitted a motion to the Bundestag calling for the creation of a Bitcoin reserve to protect Germany against inflation and currency volatility. As the largest economy in Europe, Germany’s participation in such a policy could represent a major milestone for Bitcoin adoption on the continent.

Following the announcement, many users on social media welcomed the move, suggesting it showed Germany’s increasing recognition of Bitcoin as a legitimate and valuable asset. Others, however, criticized the government’s past decision to sell off its BTC holdings at relatively low prices.

Previous Bitcoin Sales Sparked Backlash

AfD’s proposal comes after the German government sold around 50,000 BTC in June 2024, which had been previously seized in criminal cases. At the time, Bitcoin was trading at approximately $57,900. Based on current prices, the sale potentially cost the government an additional $5.6 billion in unrealized gains.

As one social media user commented, “When politicians start discussing Bitcoin reserves, it’s clear that the era of ‘magic internet money’ is over.”

AfD Opposes the Digital Euro

The party’s motion, titled “Recognizing the Strategic Potential of Bitcoin – Preserving Freedom through Restraint in Taxation and Regulation”, argues that Bitcoin should be treated differently from other crypto assets. AfD proposes a tax exemption for BTC held longer than 12 months and calls for resistance to the European Union’s tightening regulatory stance on crypto wallets and services.

Additionally, AfD describes Bitcoin as “stateless money”, firmly opposing the creation of the European Central Bank’s digital euro project.

A New Bitcoin Reserve Race in Europe?

Germany’s proposal follows closely on the heels of a similar initiative by France’s UDR party, which aims to accumulate 2% of the total Bitcoin supply—about 420,000 BTC—over the next decade. Meanwhile, in Switzerland, parliament member Samuel Kullmann has launched a campaign to amend the constitution, pushing the Swiss National Bank to hold Bitcoin on its balance sheet.

According to Bitcoin Treasuries data, the only European nations currently holding BTC are the United Kingdom and Finland. Germany and Bulgaria have no official Bitcoin reserves.

If AfD’s proposal gains traction, Germany could become not only the first major European economy but also one of the largest global powers to formally adopt Bitcoin as part of its strategic reserves.

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Deutsche Bank Expands in the Crypto Space

Deutsche Bank initially unveiled its digital asset custody ambitions back in 2022. The technical infrastructure for the upcoming service will be built not only in collaboration with Bitpanda, but also with Swiss-based tech provider Taurus SA, with whom the bank has previously partnered.

This initiative will be led by the bank’s corporate banking division, aiming to deliver secure, regulatory-compliant, and scalable digital asset solutions for institutional clients.

Traditional Finance and Digital Assets Are Becoming Intertwined

Crypto custody is widely regarded as one of the most crucial gateways for traditional financial institutions to enter the world of digital assets. This move is seen as a pivotal step in deepening Deutsche Bank’s integration with the crypto sector.

The growing interest of established banks in digital assets not only enhances institutional investor confidence, but also contributes to the development of a regulation-friendly ecosystem. Deutsche Bank’s latest move underscores the growing overlap between traditional finance and the evolving digital economy.

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This figure met economists’ expectations and signals that monetary policy efforts across Europe may finally be achieving their intended impact of taming inflation.

Services Inflation on the Rise

Among the key drivers, services inflation stood out in June. This category rose to 3.3%, up from 3.2% in May, although still below April’s 4% level. This uptick is especially relevant as services are a core component closely monitored by the ECB.

Core Inflation Holds Steady

Core inflation—which strips out volatile categories like energy, food, alcohol, and tobacco—remained flat at 2.3% in June. The stable figure reflects broader price pressures beginning to stabilize across the euro area.

Diverging Trends in Major Eurozone Economies

Inflation data from key euro area economies showed mixed signals. Germany saw a slight easing in harmonized inflation, France and Spain experienced modest increases, while Italy remained unchanged. Collectively, these variations helped push the overall euro area figure toward the ECB’s 2% benchmark.

A Cautious Outlook on Rates

Given the current inflation environment, analysts increasingly expect the ECB to hold interest rates steady at its next meeting on July 25. However, a potential 25 basis-point cut is still on the table for September.

ECB Chief Economist Philip Lane reinforced this outlook, stating:
“The cycle of bringing inflation down from 10% to 2% is done. But going forward, we must remain alert to ensure any deviation doesn’t affect the medium-term outlook.”
His comments reflect a continued data-dependent approach to monetary policy.

Risks Remain on the Horizon

Despite meeting the inflation target, economists warn of lingering risks that could derail the disinflation process. These include persistent services inflation, volatility in oil prices driven by geopolitical tensions in the Middle East, and potential U.S. trade tariffs.

Inflation Breakdown for June 2025

According to the Eurostat flash estimate, here’s how the components of inflation fared in June:

• Services: 3.3% (May: 3.2%)

• Food, alcohol & tobacco: 3.1% (May: 3.2%)

• Non-energy industrial goods: 0.5% (May: 0.6%)

• Energy: -2.7% (May: -3.6%)

When Will Final Data Be Released?

Eurostat is set to publish the full inflation dataset for June on July 17, 2025. This release will be closely watched by policymakers and markets alike as the ECB prepares its next move.

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A Massive $120 Billion Investment from Tether

According to Tether’s Q1 2025 attestation report, the company’s holdings in US Treasury bills have surpassed $120 billion. This amount is higher than Germany’s $111.4 billion in US Treasurys. With this milestone, Tether has become the 19th largest holder of US government debt globally.

In the report, Tether stated:

“This achievement not only strengthens our prudent reserve management approach but also highlights our expanding role in distributing dollar liquidity at scale.”

Gold and Treasuries Help Cushion Crypto Market Volatility

As crypto markets faced significant fluctuations in early 2025, Tether’s traditional asset portfolio helped offset much of the volatility. The company reported over $1 billion in operating profits for the first quarter, largely driven by returns on US Treasuries, while gold holdings also contributed significantly, softening the impact of crypto losses.

Uncertainty Around Regulations May Influence Future Inflows

While demand for Tether’s dollar-backed stablecoin continues to grow, regulatory uncertainty in the United States remains a factor. Clearer guidelines are expected to boost institutional confidence and potentially lead to further expansion of Treasury reserves.

Two major legislative efforts are currently in focus:

• The STABLE Act, which passed the House Financial Services Committee in April, is now awaiting a full House vote.

• The GENIUS Act was stalled on May 8 due to lack of support, with some concerns raised over former President Donald Trump’s potential financial interests through his family’s involvement in digital assets.

Strong Industry Presence in Washington

On May 14, more than 60 prominent crypto founders gathered in Washington, D.C., to express support for the GENIUS Act. The bill aims to establish clear collateral standards for stablecoin issuers and enforce compliance with Anti-Money Laundering (AML) laws.

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According to the announcement made on May 12, this license allows BitGo to serve both crypto-native companies and traditional financial institutions throughout Europe.

Harald Patt, Managing Director of BitGo Europe, stated that the license demonstrates the company’s commitment to high standards of security, transparency, and trust.

Established EU Headquarters in Germany in 2023

Founded in 2013 in Palo Alto, California, BitGo is recognized as a major platform focused on crypto custody solutions, ensuring the security of digital assets such as Bitcoin on behalf of its clients.

To strengthen its presence in Europe, the company established BitGo Europe headquarters in Frankfurt in 2023. Since then, BitGo has completed registrations in various EU countries, including Italy, Spain, Poland, and Greece.

With the MiCA license now secured, BitGo will be able to operate under a unified and forward-looking regulatory framework across the EU.

Wide Range of Institutional-Grade Services

Although BitGo has not yet provided specific details about the services it will offer under the MiCA license, the announcement emphasized that this step comes at a crucial time for expanding its institutional-grade digital asset solutions.

As of May 12, BaFin’s official records did not yet reflect BitGo’s MiCA license, though previous registrations were listed.

By 2025, Germany has emerged as a key hub for companies seeking MiCA licenses, with firms such as Bitpanda and Boerse Stuttgart Digital Custody also receiving similar approvals.

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Why Was the eXch Exchange Targeted? 

Operating since 2014, eXch allowed transactions without user identity verification (KYC), making it attractive to cybercriminals. The BKA reports that the exchange facilitated $1.9 billion in transaction volume, enabling money laundering and hack-related activities. Connections were identified with the $1.4 billion Bybit hack and the Genesis Creditor theft. The operation resulted in the seizure of the platform’s servers and 8 terabytes of data. 

Operation Details 

Germany collaborated with international law enforcement agencies. The seized assets include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Dash. This marks the third-largest cryptocurrency operation in BKA history. The platform has been completely shut down, and user data is now in the hands of authorities. This development highlights the accelerating global fight against crypto crimes. 

This operation serves as a clear warning to cryptocurrency exchanges. Platforms that fail to comply with KYC and AML regulations are on the authorities’ radar. Blockchain security and regulatory compliance are now more critical than ever. Germany’s move could set a precedent for other countries. 

Senior prosecutor Benjamin Krause, commenting on the seizure, emphasized “the importance of acting against fast and anonymous opportunities for money laundering of any amount.” 

“Crypto swapping is a fundamental component of the underground economy. It is used to conceal criminal proceeds from illegal activities such as hacking or trading stolen payment card data, thereby enabling perpetrators to access these funds,” he said. 

Authorities are leveraging technology to eliminate the anonymity advantage for criminals. Cryptocurrency users, meanwhile, should prioritize trusted and regulated platforms. 

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Trump’s Tariffs Draw Global Backlash

The tariffs that US President Donald Trump has revived continue to trigger global political and economic tensions. The harsh moves, especially from China, Germany and Argentina, show that tariffs can have not only economic but also geopolitical effects.

China: We Are Not Selling TikTok

The Beijing administration made an important decision following Trump’s new tariffs against China. China has rejected the sale of TikTok to the US. This sales agreement, which the Washington administration has been pressuring for a long time, has now been completely shelved. Chinese officials consider this step a “sovereignty issue” and are signaling that they will not bow to US economic pressure.

Germany: Gold Reserves in the US on the Agenda

Europe’s economic engine, Germany, is preparing a quieter but quite meaningful response to the tariffs. The Berlin administration is considering returning approximately 1,200 tons of gold held in the US Federal Reserve vault to the country. This step carries an important message not only in terms of economic independence but also financial sovereignty. According to experts, this decision shows that trust in economic cooperation in the Western world is being damaged.

Argentina is Pursuing a New Trade Agreement!

The voice rising from South America belongs to the Argentine President. The Buenos Aires administration, which wants to limit the effects of tariffs on exports and inflation in the country, has called for a new trade agreement with the US. This move by Argentina has once again revealed how vulnerable developing countries are to protectionist trade policies.

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Austrian fintech unicorn Bitpanda has become the latest cryptocurrency company to secure a license under the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework.

Bitpanda announced that it has secured a MiCA license from Germany’s Federal Financial Supervisory Authority (BaFin). The license, which is effective immediately, allows the platform to operate across all EU member states under a unified regulatory regime.

Bitpanda is the second crypto asset service provider (CASP) to receive the MiCA license from BaFin since the regulation came into full effect on December 30, 2024. Bitpanda co-founder and CEO Eric Demuth highlighted that the enforcement of MiCA will determine the effectiveness of the regulatory framework now that it is fully in force.

“The real question is whether the EU will have both the resources and the determination to take action against those who disregard the regulation,” Demuth said, referring to foreign CASPs continuing to operate “as if it’s the Wild West.” He added:

“Without consistent and robust enforcement, this legislative milestone risks being ineffective and puts those who genuinely try to comply with European regulation in a significantly worse competitive position.”

Bitpanda CEO: Europe Should Look to the US for Inspiration

MiCA could have a positive impact on crypto adoption in the EU and beyond, but it is still important for European lawmakers to catch up with regulatory developments in other regions, especially in the United States, Demuth said.

“The speed and determination with which the US is positioning itself as the global crypto hub are setting new benchmarks,” he said, adding that it may become increasingly difficult for the EU to maintain its competitive advantage in the sector.

“Regulation is never a factor that accelerates growth,” Demuth said, continuing:

“The US sets an example by recognizing that the internet has no national borders and by treating any company with American customers as subject to their regulatory and enforcement measures. The EU should be confident to do the same.”

Bitpanda is the second CASP to secure BaFin’s MiCA license, after Boerse Stuttgart Digital Custody, which received the license on January 17. Boerse Stuttgart Digital Custody is a subsidiary of Boerse Stuttgart Group, one of the largest exchange groups in Europe.

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Details indicate that this operation was led by the Federal Criminal Police Officer (BKA) and the Frankfurt am Main Public Prosecutor’s Office. They aimed at systems allowing anonymous transactions between fiat money and cryptocurrencies.

The closure action was taken for the exchanges claimed to have broken anti-money laundering rules by neglecting appropriate know-your-customer (KYC) policies.

Authorities charge these websites with deliberately hiding on a significant scale the source of illegally obtained money. The agency said that this behavior essentially allowed them to function as illicit trading platforms.

“Part of the measures, the BKA and ZIT were able to secure extensive user and transaction data from the switched-off exchange services,” the agency said. They further mentioned that among these offenders are darknet traders, botnet operators, and members of ransomware gangs.

Targeting the infrastructure supporting unlawful activity, the operation fits within a bigger plan to fight cybercrime. German authorities want to stop illegal money flow by closing these exchange services.

German authorities have underlined some recent achievements in their campaign against cybercrime. The agency brought up the 2023 ChipMixer server infrastructure seizure. The government locked up almost 90 million euros during the raid.

BKA also mentioned the downing of several illegal markets. Among these are the Kingdom Market and the disablement of main malware threats like Emotet and Qakbot.

Germany already has a comprehensive legislative framework for cryptocurrencies. Their strong anti-money laundering rules make KYC required. This is established in place to guarantee the avoidance of terrorist funding operations and money laundering activities.

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