In Germany, bitcoin was recognized as legal tender

[stayeduptolate]

51
The Federal Ministry of Finance of Germany stated that purchases for bitcoins will not be taxed, since the crypto currency is a legitimate means of payment.

The Office published its decision on February 27. In the document, the regulator refers to the European Court's ruling of 2015, which sets a precedent for all EU member states.

The court ruling says that crypto-currencies are considered a legitimate means of payment and that therefore the transactions for the payment of goods and services with their help should not be taxed:

"So-called virtual currencies (crypto-currencies such as bitcoin) are considered equal to legal means of payment if these so-called virtual currencies have been accepted as alternative and contractual means of payment by the parties involved in the transaction and have no other purpose than to use as a method payment ».

Conversion of crypto-currencies to fiat and vice versa in the decision of the European Court is classified as "other taxable services". Thus, the party that acts as an intermediary in this exchange will not be taxed. It follows that the operators of crypto-exchange exchanges can receive exemption from taxes "if they complete the purchase and sale of bitcoin as an intermediary on their behalf".

Commissions to miners should also not be taxed, since they are paid on a voluntary basis.

We note that earlier this year the head of the Bundesbank Joachim Wuermeling (Joachim Wuermeling) said that the regulation of crypto-currency should be carried out on a global scale. And the head of the European Central Bank, Mario Draghi, believes that the ECB does not have such authority at all.

Currently, the European Commission is preparing an action plan to prevent financial crimes using crypto currency.

This is very good news that people and governments are now understanding the potential of bitcoin . Now there are many countries who has legalised bitcoin. Initially there were South Korea and Japan then Florida legalise bitcoin as a mode of tax payment system, then many European countries has also legalise bitcoin. Now the Germany has also legalised bitcoin. The monetary fund of Europe has considered bitcoin as a central currency of nation and now bitcoin is being use for daily basis transactions.

[yudi31]

The German Ministry of Finance issued a document in which the crypto currency was indirectly recognized as a means of payment. Under the European Court's decision, the German regulator proposes to consider bitcoins and other digital currencies as equivalent conventional payments. This is fundamentally different from the position adopted in the United States, where the crypto currency is considered a tax-imposed property. As a result, someone who has paid off crypto currency for any item, theoretically has to pay taxes, for the sale of the property.

[19nataliya12]

Germany now officially defines bitcoin currency - as noted in the Finance Ministry's decree, crypto-currencies become the equivalent of legal means of payment, as they are used by transaction participants as an alternative contractual and immediate way of payment.

[KingScorpio]

51
The Federal Ministry of Finance of Germany stated that purchases for bitcoins will not be taxed, since the crypto currency is a legitimate means of payment.

The Office published its decision on February 27. In the document, the regulator refers to the European Court's ruling of 2015, which sets a precedent for all EU member states.

The court ruling says that crypto-currencies are considered a legitimate means of payment and that therefore the transactions for the payment of goods and services with their help should not be taxed:

"So-called virtual currencies (crypto-currencies such as bitcoin) are considered equal to legal means of payment if these so-called virtual currencies have been accepted as alternative and contractual means of payment by the parties involved in the transaction and have no other purpose than to use as a method payment ».

Conversion of crypto-currencies to fiat and vice versa in the decision of the European Court is classified as "other taxable services". Thus, the party that acts as an intermediary in this exchange will not be taxed. It follows that the operators of crypto-exchange exchanges can receive exemption from taxes "if they complete the purchase and sale of bitcoin as an intermediary on their behalf".

Commissions to miners should also not be taxed, since they are paid on a voluntary basis.

We note that earlier this year the head of the Bundesbank Joachim Wuermeling (Joachim Wuermeling) said that the regulation of crypto-currency should be carried out on a global scale. And the head of the European Central Bank, Mario Draghi, believes that the ECB does not have such authority at all.

Currently, the European Commission is preparing an action plan to prevent financial crimes using crypto currency.

the german bankster cartel is among the biggest spinlessness idiots in the world, so no wonder.

[boty]

I think this is one good news that can make bitcoin prices go up and expensive because the German state that has advanced technology and have smart people already receive bitcoin and legalize bitcoin.

[YzzyGo]

It may be a long road ahead but these little steps towards bitcoin adoption is very much welcome. If Germany became more successful because of bitcoin, more and more countries would likely do the same or may consider doing so.

[masudginanjar]

its really great news for crypto industry

great, Bunny Token is here !

I am sure and believe that there is a good news like this will increase the price of Bitcoin and other Altcoins it.

and hopefully Bitcoin continues up to the Moon, because in my country often seklai bad news or FUD.

[lehuong]

A giant energy company in Germany allows payment with bitcoin
In a statement from the company, digitization has changed the entire economy including the energy sector. Based on this, it believes that the systems, transactions, and networks will be decentralized and capable of functioning independently of the central organizations in the future.

[eloymjb]

 if this news was true, it is very lucky all the cryptoholders in this country and we hope so that germany is starting to legalize bitcoin we hope that all country in the world will be legalize bitcoin. i think that bitcoin will starting to rise in this kind of news and many people that near in germany will go that try this news.

[Larrymili]

That is very good to hear and I believe that it will continue to develop in other state so that we can achieve our dream, because it will boast the economy of the country

[muslihudin]

that's great news, bitcoin will be more famous for the future and will be increasingly rising in price

[galaxing]

yes, This is good news, and probably will cause a surge in bitcoin value.
I am convinced that Germany's actions may cause other countries to follow their lead and will eventually lead to an increase in the Bitcoin price.

[Pattart]

It's really a great news. Germany has now given legitimacy to Bitcoin and it can now be used for tax and trading purposes. A financial tool under the Bitcoin banking system. I think now other countries will follow Germany and they will also want to use it. No tax will be imposed for its transaction. Bitcoin is the virtual currency and by that they will use to make all the payments and payments. I think that the cost of bittacquena will increase greatly.

Yeah this is good news. We know that Germany is a great country with great influence for other countries. of course the policy of the German government will be followed by other countries.
I'm still curious how it works so the German government can ask taxes for bitcoin users. will a bitcoin user in germany definitely pay for it?

[freesia_pnp888]

indeed an old news but right now Germany is trying to do as much as possible to make a big adoption to such a new technology. I think it's a big progress from them.

[cryptohunter]

now to plan how to move to germany

these types of countries are always ahead of the curve... japan and germany actually.

[iagyei259]

A good news for bitcoin community ,as Germany lead the way other EU countries might follow and to the whole world.Bitcoin will gradually become a legal currency soon.

[market-beta]

whether this fresh wind is blowing back that can make the name of bitcoin and bitcoin prices to improve.
 hopefully there is a next country that will accept bitcoin as a valid payment instrument.

[Mancung]

A policy that other countries should follow. It can boost their economics state, when bitcoin is a legal tender in a country, it always brings great impact by its transactions, whether it is used as a trading tool or in a tourism tool. Which is good for the economics life

[leostrong.mo]

Germany is the core of the entire EU. Germany's attitude towards BTC will affect other EU countries!
Other EU member states may also recognize the statutory status of BTC!
BTC will change the payment method in Europe!

[LangleyMccarty]

 I really though that they are going to be one of the country that will be anti-crypto, but the news says otherwise. It looks like they have made a sudden U-turn