A member of the German parliament has recently vocalized her support for granting Bitcoin a legal tender status in the country.
Joana Cotar, who serves in the Bundestag, Germany’s federal legislative body, has expressed her vision for integrating cryptocurrency more deeply into the nation’s economic framework during a recent interview with Forbes.
Cotar’s initiative, termed “Bitcoin in the Bundestag,” aims to spearhead efforts to develop a comprehensive legal structure that could potentially recognize Bitcoin as an official currency. This pioneering proposal reflects growing interest within German political circles regarding digital currency’s potential role in mainstream finance and commerce.
Through the initiative, Cotar seeks to educate fellow legislators about the advantages Bitcoin offers in terms of innovation and economic freedom. The goal is to foster a more informed and progressive legislative environment to enable prudent crypto adoption.
However, Cotar has emphasized balancing innovation with appropriate regulatory oversight. Her policy vision entails crafting safeguards against risks like money laundering and tax evasion associated with cryptocurrency. At the same time, she remains committed to upholding the decentralizing benefits of Bitcoin.
“Ensuring legal protections for both businesses and citizens is crucial,” Cotar stated, underscoring the need for balanced regulation that promotes security without stifling freedom.