Germany Approves Cryptocurrency As Legal Means Of Payment

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[Levious]

Strictly speaking, Germany only recognizes that cryptocurrencies can be used as a means of payment, but they do not admit that cryptocurrencies are a type of “money.” Banks will not use cash to exchange your cryptocurrencies. Contrast to gold is also a Payment means, but many banks can use cash to buy your gold.

[Harlot]

Strictly speaking, Germany only recognizes that cryptocurrencies can be used as a means of payment, but they do not admit that cryptocurrencies are a type of “money.” Banks will not use cash to exchange your cryptocurrencies. Contrast to gold is also a Payment means, but many banks can use cash to buy your gold.

I doubt that commercial banks will also be involve with cryptpcurrencies. Cryptos in its nature is a volatile asset which make it unattractive for banks to invest there money with. That is why you can only see known Fiat currencies as well as Gold being traded with banks as they known for their stable movement in the market. They are not willing to take a risk on cryptocurrencies as it will give then inaccurate reports if their expected income.

[vessing]

If bitkoyn recognized Germany's currency and legal tender, then other EU countries also have to do it. In practice, this means that the civilized world in the near future is moving to a crypto-currency financial system. The rest is a matter of technique.

[SectorZero]

And I see in this news such sense-Germany needed an inflow of capital. If they legalize the crypt, then not only money, but also people - the minds of today-will be drawn to them. The technology is popular in the scientific world, bitcoin is used by large investors. So Germany in this regard is on the path of the leader.

[KorakPawon]

Strictly speaking, Germany only recognizes that cryptocurrencies can be used as a means of payment, but they do not admit that cryptocurrencies are a type of “money.” Banks will not use cash to exchange your cryptocurrencies. Contrast to gold is also a Payment means, but many banks can use cash to buy your gold.

indeed, although there are still some shortcomings about the German crypto allow crypto as a means of taransaksi because of the many residents there who use crypto why Germany still not recognize as a currency because they believe that crypto is called a non-currency asset because it is not real.