Bitcoin Companies Gain Power in Germany: The Bundestag’s New Association Will Make It Happen

• With 64 founding members, the association seeks to legitimize Bitcoin within Germany’s regulatory and business sector.
• Despite recent regulatory actions, the association strives to normalize cryptocurrencies in the German market.

Germany has taken a step towards incorporating Bitcoin (BTC) into its political landscape with the creation of the Federal Bitcoin Association in the Bundestag.

This initiative, led by parliamentarian Joana Cotar, brings together 64 founding members, including business leaders and legislators, with a shared goal: to advocate for their interests, promote financial education, and support Bitcoin.

The association’s primary objective is lobbying on behalf of Bitcoin-related businesses in Germany. “We represent the interests of our member companies to politicians, primarily in Germany and Brussels (European Parliament and European Commission),” states the association’s official website.

By bridging the gap between business and politics, the organization aims to create direct dialogue between Bitcoin companies and policymakers. Currently, these companies have limited influence in shaping laws, despite being directly impacted by regulations.

The association’s mission extends beyond lobbying. It also seeks to advance technical development in the Bitcoin network. Through research support and collaboration with developers, the organization aims to drive progress in the peer-to-peer payment system.

Additionally, it provides educational resources to foster a better understanding of Bitcoin among politicians , industry leaders, academics, and the general public.

Gestern haben wir im Bundestag den #Bitcoin -Bundesverband gegründet. 🚀⚡️

64 Gründungsmitglieder kämpfen nun gemeinsam für ihre Interessen, für finanzielle Bildung und für Bitcoin.

Ich freue mich sehr, Teil des Verbandes zu sein und gratuliere @pjah91 herzlich zur Wahl als… pic.twitter.com/S7s441DXtc

— Joana Cotar (@JoanaCotar) September 27, 2024

This comes as German authorities have recently taken action against the cryptocurrency sector , including the closure of 47 Bitcoin exchanges due to alleged financial crimes . The formation of the association stands in contrast to these regulatory moves, as it works to legitimize and position Bitcoin within Germany’s legal and business frameworks.

Joana Cotar, a prominent advocate for Bitcoin in the Bundestag, has consistently voiced support for digital currencies. Her efforts to raise awareness and promote Bitcoin within the German parliament have gained attention, and the establishment of the Federal Bitcoin Association strengthens her impact.

Germany’s financial sector has also shown signs of adapting to cryptocurrencies, with major banks beginning to offer services for Bitcoin and other digital assets. This reflects a growing trend of acceptance and normalization of cryptocurrencies in one of Europe’s largest economies.