German Government Deposits 200 BTC on Kraken

IconCryptoNewsTerminal Staff11 Jul, 2024

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German Government Deposits 200 BTC on Kraken

On-chain data analytics provider Arkham Data reported that an alleged address of the German government deposited 200 BTC on Kraken 11 minutes ago. This move by a government agency reflects the growing acceptance of cryptocurrencies by mainstream institutions. The German government has been exploring the use of blockchain technology for several years. In 2021, the government announced plans to launch a digital euro, and it has also been working on a project to use blockchain to improve the efficiency of government services. The deposit of 200 BTC on Kraken is a significant step forward for the German government's adoption of cryptocurrencies. It suggests that the government is becoming more comfortable with the technology and that it sees potential benefits in using it.

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