CEO of Fidor Bank of Germany, Matthias Kröner in an interview with IBTimes has opened up on the Bitcoin, the regulations pertaining to Bitcoin, and also the lackadaisical attitude of politicians in his country that he is facing and also highlighted the importance of the cryptocurrency.
Hailing the Bitcoin as the “natural part of digital lifestyle” he vowed that his bank will open up in UK this year. Known for his outspokenness, Kröner did not mince words when he questioned UK’s approach over allowing access to the payment architecture by asking if “an agency bank being the doorman to a public payment rail” is justifiable.
The CEO did not just stop there, he also lamented the absence of good Bitcoin regulations in his own country and narrated that he himself has tried to convince politicians on cyptocurrency regulations several times by citing advantages that they could reap in an increasingly Bitcoin-friendly world.
But he added that his words have failed to convince the authorities on Bitcoin. He also lambasted the politicians and their failure in understanding the importance of Bitcoin and other cryptocurrency by calling them “the biggest local disadvantage.”
Fidor Bank is a premium German bank that has a full European banking licence granted to it in the year 2009.
This year Fidor Bank has also cemented a partnership with the German Bitcoin exchange Bitcoin.de which will provide what is being called the “Bitcoin express” to its users.
Bitcoin express is an instantaneous service which will provide the customers with €100,000 deposit insurance on the transactions by virtue of being once removed from a regular and a regulated bank account. Fidor Bank has also partnered with Kraken in the USA.
Kröner also expressed his satisfaction on the partnership limit and also on the size of his bank’s operations because that ways it was convenient for the regulators to easily monitor the cryptocurrency activities at his bank and also with its exchange partners.
Nikhil Gupta is a Bitcoin writer/analyst at NewsBTC.com. He provides opinionated and informative articles, price analysis, and covers news stories related to the cryptocurrency. He is an avid Bitcoin follower and has been tracking the currency since late 2013. View all posts by Nikhil Gupta
Hailing the Bitcoin as the “natural part of digital lifestyle” he vowed that his bank will open up in UK this year. Known for his outspokenness, Kröner […]