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Author Topic: In Germany, bitcoin was recognized as legal tender  (Read 1360 times)
Ekenegbu123
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July 23, 2018, 05:29:46 AM
 #141

This is quite a good news for bitcoin as this would warrant more people to use bitcoin in Germany. Also, I have this belief that over the longer term, many countries in the world are going to legalize bitcoin and all its citizens would use it. Fantastic news
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July 23, 2018, 05:37:50 AM
 #142

Wow this a good news and I'm sure this will definitely help the value of bitcoin in the crypto market. I'm so excited to hear this news
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July 24, 2018, 07:27:27 AM
 #143


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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.

Again a very good news of the day and I would like to tell you that the first good news is that the valuation of bitcoin is again started inflating and the market of bitcoin is looking so good and so positive and then another good news that in Germany 🇩🇪, bitcoin is declared as a legal tender and I am really very happy that countries one by one is legalising bitcoin and allowing bitcoin transactions in their nation and moreover some car dealer in Florida is accepting bitcoin, so the good news is coming from everywhere regarding bitcoin
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July 24, 2018, 07:36:26 AM
 #144

Good news, indeed!
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July 24, 2018, 07:43:14 AM
 #145


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.

There is again a very good news regarding the bitcoin and the first news is very very good reason for being happy and that is once again the valuation of bitcoin has again started inflating and all those who has lost trust in bitcoin and was in panic selling of their bitcoins are now again getting trust over bitcoin and again wants to invest into bitcoin, so we can see that now more and more countries wants to be a part of bitcoin and now the Germany 🇩🇪 has declared bitcoin a legal tender in their nation.
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July 24, 2018, 07:56:49 AM
 #146

Got to hand it to the Germans. Always in the forefront of technology and innovation. Embracing cryptocurrency is a must for every nation. Heil Bitcoin!

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July 24, 2018, 07:57:34 AM
 #147

This has been the case for some period of time now, Germany was one of the first to adopt crypto, especially BTC,  which was a good move, some countries chose not to embrace the coin, but germany did well to give the technology a chance
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July 24, 2018, 08:30:02 AM
 #148

 " Keeping in mind that a free country should not interfere in the citizens private choice of money "the finance ministry of Germany declared Bitcoin as a unit of account and used as legal currency for tax and trading purposes . As the popularity of Bitcoin increased the government and financial institute also became attracted towards Bitcoin . The government of Germany signed Bitcoin as a legal tender and specified that purchase made for cryptocurrency should not be taxed .

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July 24, 2018, 10:54:35 AM
 #149

Yes I have heard about that, I'm anticipating the next step of worldwide bitcoin acceptance, and it would be when some particular country would claim bitcoin as an alternative payment method in all over the country.

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Bugsbey
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July 24, 2018, 10:58:02 AM
 #150

Yes, today I heard this news and was very happy. Bitcoin continues his victorious procession around the world. I hope that the example of Germany will be followed by other European countries, which will contribute to the even greater popularity of bitcoin.
This happening in Germany is beneficial for all of us bitcoiners. We really are must be happy. I too will hope that other European countries will do same as Germany.
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July 29, 2018, 09:37:47 AM
 #151

This is awesome.Its a legal product as it is taking place around the world as well as Germany.
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July 29, 2018, 09:40:01 AM
 #152

Well Germany finally approved the legal tender of btc. Its a promising news.
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July 29, 2018, 09:42:52 AM
 #153

This is excellent. It opens a new era of crypto market as the government of Germany approve the tender.
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July 29, 2018, 09:44:23 AM
 #154

This is great indeed. Now all EU country will follow Germany.
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July 29, 2018, 10:11:34 AM
 #155


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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.





I think that is good news to everyone because it will be the start of everything in bitcoin. If germany accept it of course other country too. We are hoping that it will be happen in all country so it easy to us to make a transaction everywhere.

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July 29, 2018, 10:14:17 AM
 #156

This is a good information for all is mate becauae they are not banning cryptocurrency and they also recognize it as a way of payment of people in any different transactions. Hope many country soon will habe this idea and an open minded.

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July 29, 2018, 10:23:14 AM
 #157


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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.

I think its a great decision by German. German already be one of those country who doesn't close their door to crypto currency. I hope in the future, sooner or later, there will be more country that can accept and legalizing bitcoin.


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July 29, 2018, 10:24:00 AM
 #158

This is very good news. This development of events has a good effect on the growth and growth of the cryptocurrency market in general. I hope more and more, and many countries start to get it.

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September 23, 2018, 09:42:04 AM
 #159

It is designed to help insurers to save their money and get their business on a new level. Basically, they work with different types of insurance such as e-commerce, network insurance, personal accidents and so on. I think this is really great and it seems like a creative and demanding project. Again the good news of the day and I want to tell you that the good news first is that the bitcoin pricing starts to swell and the bitcoin market looks very good and very positive and then good news in Germany. Oh, bitcoin is declared to be a legitimate tender and I am really glad that the states that once legalized bitcoin and allowed bitcoin trading in their country and further some car dealers in Florida is accepting bitcoin, so the good news is that from everywhere it involves bitcoin
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September 23, 2018, 09:43:48 AM
 #160

Yes, but it is kind of old news. Some people in Europe moved to Germany to avoid for their bitcoins when cashing out.

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