German bank to open Bitcoin trading desk, Tesla sells merch with Doge and Russian funds not allowed to invest in crypto

Photo by Executium on Unsplash

German savings bank to offer bitcoin trading

Sparkasse, a German savings bank, is working to implement a bitcoin trading offering for its 50 million customers. The old municipal institution is reportedly preparing a service with which clients could start buying and selling BTC as early as next year.

The report said the previously secret project is located at the center of the DSV Group, the Deutsche Sparkassenverlag, whose subsidiaries and associated companies are closely involved with the savings bank organization Sparkasse.

A dedicated team at the S-Payment division, where payment solutions for private and corporate customers of the savings banks are developed and marketed, is working on the project.

Source: Bitcoinmagazine

Elon Musk: Tesla will start selling merchandise for Dogecoin

Car manufacturer Tesla will be offering merchandise for sale with Dogecoin (DOGE) according to Tesla CEO Elon Musk.

Musk has been a longtime fan of Dogecoin. He has invested in it, bought it for his toddler and has even discussed with its developers about making it handle a higher throughput.

When he was named Time Magazine’s man of the year, he said, “Fundamentally, bitcoin is not a good substitute for transactional currency.” Instead, he suggested dogecoin — even though it was created as a joke.

Russian mutual funds banned from crypto investments

Mutual funds should not be allowed to invest in digital assets, according to a press release by the Russian central bank.

In a press release published yesterday, the Bank of Russia stated that the number of indices that mutual funds are allowed to invest in should be increased from 42 to 79. Also, the list of allowed assets should be expanded. However, the press release also mentions an explicit ban on crypto investments:

At the same time, this establishes a ban on Unit Investment Funds (UIFs), including those intended exclusively for qualified investors, which invest in digital currencies and financial instruments whose value depends on the rates of digital currencies. Earlier, the Bank of Russia recommended not to invest in such assets.

The Russian central bank stated that the new regulation will “not only increase the investment potential of UIFs, but will also strengthen investor protection”.

Source: Cryptocoin

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