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German National Tourist Board starts accepting Cryptocurrencies
German National Tourist Board (GNTB) has started acknowledging Bitcoin and various other digital currencies as mode of payment for its services. Post declaration, GNTB CEO ‘Petra Hedrofer’ said that, “Within our strategy for digitalization we continuously look at the most recent technologies and trends and see whether they can be implemented into our company”.
Earlier, Federal Ministry of Finance in Germany had announced that in accordance with the precedent set by the European Court in 2015, digital currencies are acceptable tender for payments. However, the first detailed regulations for operators of ICOs in Germany were passed in late February by the Federal Financial Supervisory Authority (BaFin), which has authority over the crypto space due to a current lack of specific legislation.
Germany plans to collaborate with different countries of the European Union (EU) for the development of regulations for Initial Coin Offerings (ICOs) and trading platforms.
The marketing organization said it was interested in testing crypto’s underlying blockchain technology for their finance operations and may use it for international payments. Petra Hderofer further said that as a global company, the GNTB wants to “set an example as a driver of innovation and leader for the tourism industry”.
As a national tourism board, Frankfurt-based GNTB is accountable to the Federal Ministry of Economy and Energy, from which it further receives financing. GNTB plans to create and impart strategies and products to arbitrarily represent Germany as an appealing travel destination. For this purpose, the organization operates 32 agencies abroad.