Joana Cotar’s Call for bitcoin as a Legal Tender in Germany

Joana Cotar, a member of the German Bundestag, has publicly expressed her support for making bitcoin a legal tender in Germany. In an exclusive interview with Cointelegraph, Cotar emphasized the need to initiate a “preliminary examination” for legal framework to officially recognize bitcoin as legal tender in the country.

According to Cotar, this initiative aims to ensure legal security for companies and citizens, while also addressing potential risks such as money laundering, tax evasion, and other illegal activities associated with bitcoin. However, she emphasized the importance of not stifling innovation and the freedom aspects of bitcoin.

Initiative to Educate Parliament Members

To raise awareness in the German parliament, Cotar has launched the “bitcoin in the Bundestag” initiative. The goal of this initiative is to provide education to her colleagues on the benefits of bitcoin, enabling them to make informed decisions on the matter.

Cotar stressed the need to promote the freedom aspects of bitcoin, including protecting privacy, ensuring security standards, and preventing excessive regulation to maximize the benefits of bitcoin.

Focused on bitcoin Only

While Cotar declared that she is fully focused on bitcoin, she also emphasized the need to establish a formal Bundestag committee that recognizes the technological differences between bitcoin and other crypto assets. She highlighted the importance of bitcoin for society and stated that her initiative is bitcoin only.

Notably, Cotar has been a vocal critic of the European Central Bank’s digital currency plans. She proudly wore a bitcoin shirt while speaking out against the digital euro, stating that “Nobody needs the digital euro. Except for one EZB and politicians who have something else in mind.”

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Role of bitcoin in Germany

As the debate over digital currency intensifies in Europe, the role bitcoin will play in Germany remains uncertain. Cotar’s endorsement, however, has brought more attention to the role bitcoin is starting to play in traditional financial systems and how governments will respond to it.

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