A study conducted by Bitkom has revealed a divide among German companies regarding cryptocurrencies as a payment method. While nearly half of respondents believe that crypto payments will become commonplace in the future, most remain skeptical.
General business recommendations on cryptocurrencies
According to a survey of 602 companies, with at least 20 employees, only 2% currently accept cryptocurrency. However, 48% of respondents believe that within ten years, crypto payments will be more common. Nevertheless, 86% of respondents do not plan to implement them in the near future, citing high price volatility, risks of fraud, and legal uncertainty.
Impact of MiCA regulation on the crypto market
The cryptocurrency market in Europe will mainly be shaped by the new EU Markets in Crypto Assets (MiCA) legislation. The new regulation allows businesses to operate under a single license, potentially improving conditions for crypto companies. However, there are challenges: the Austrian Bitcoin ATM operator Kurant has temporarily halted its services in Germany while awaiting compliance with MiCA requirements.
Prospects and interest in cryptocurrencies in business
Despite the caution, some large companies, particularly those with at least 500 employees, are showing interest in cryptocurrencies as a payment method. Frederic Meyer, a blockchain consultant at Bitkom, noted that there is an interest in blockchain and cryptocurrencies, especially in the financial sector where specific applications are noticeably developing.
Questions about cryptocurrencies as a payment method remain relevant for businesses in Germany. The survey shows that while many companies understand the importance of digital assets, they still exercise caution and await further development of the legal framework and infrastructure.
