Bitpay suspends operations in Germany, no longer processing Bitcoin and Bitcoin Cash payments
|- Due to incoming regulation in Germany, Bitpay has suspended its operations in the country.
- They are suspending operations while they evaluate the need for German licenses.
Bitpay has suspended Bitcoin (BTC) and Bitcoin Cash (BCH) payments via its operations in Germany, reported 1 August.
The company had cited the regulation that is coming into force within the next year in Germany, for reasoning as to why they have decided to suspend their services in the country.
A Bitpay spokesperson said:
Germany has publicly stated that they want crypto companies to apply for a license starting in 2020. We have paused operations in Germany while we evaluate the need for German licenses.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.