Crypto adoption blooming in Germany, while UK is falling ‘behind,’ says CoinShares researcher
German crypto adoption is progressing through family offices and wealth managers, while the UK’s retail-facing cryptocurrency market remains “nascent,” according to the researcher.
Crypto adoption is surging in Germany, notably among family offices, wealth managers, and the younger generation, as per CoinShares researcher Luke Nolan. The UK, on the other hand, is trailing behind, with its retail-facing crypto market still in its infancy, largely due to sluggish regulations, Nolan told Cointelegraph on Thursday's Chain Reaction show.
German cryptocurrency adoption is thriving through licensed service providers, accounting for 25.5% of firms in the EU's Markets in Crypto Assets (MiCA) register. Deutsche Bank, Germany's biggest bank, is awaiting regulatory approval to introduce crypto custody solutions for European institutional clients, while the Landesbank Baden-Württemberg began offering crypto custody services in April 2024 after partnering with Austria-based Bitpanda.
The UK's Financial Conduct Authority (FCA) lifted its ban on crypto exchange-traded products less than a year ago, rendering the country's digital asset market "nascent." In June, the FCA released final guidance on crypto activities that may need authorization under its upcoming regulatory regime, scheduled to commence on Sept. 30, 2025, with a Feb. 28, 2027 deadline for firms seeking transitional arrangements.
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