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The German National Tourist Board (GNTB) has confirmed that it has started to accept Bitcoin and other cryptocurrencies for its services by making them as legal tender in the country.
Petra Hedorfer, CEO of GNTB is a great crypto enthusiast and loves to embrace to adopt the new strategies for digitalization with the invention of new technologies and global modern trends.
He said that no one can ignore the massive power of crypto's underlying blockchain technology for the financial operations and soon GNTB will be enabling it for international payments also. He wants to set up an example for other countries and economies as a driver of innovation and leader for the tourism industry.
Being the national tourism board,GNTB works under the Federal Ministry of Economy and Energy, which also provides funding to GNTB. The main motive of GNTB is to develop Germany as an attractive travel destination across the globe by strengthening its communication process and services. To achieve this goal, it operates 32 agencies worldwide.
In late February 2018, the Federal Ministry of Finance has already made the virtual currencies as an acceptable tender for payments with the compliance of the European Court in 2015. Germany is cooperating with the EU and other countries in the formation of regulations for crypyo-trading exchanges and ICOs ( Initial Coin Offerings ). Germany has passed the laws of regulations for the operations of ICOs in late February this year.