Germany recognized the bitcoin

[DavidDWatkins44]

Germany waived the long-term capital gains tax on crypto a while ago, which is a significant improvement over a lot of other countries.

[chibimanau]

The Ministry of Finance of Germany signed the Decree on recognition of bitcoin  legal tender.  The document specifies that purchases made for cryptocoins, are not taxed!What do you think about it?

it looks like the ministry, or all of Germany has stated that bitcoin is officially accepted in the country. little by little all countries have declared bitcoin is official and accepted. Hopefully later all countries will accept it so that the price of bitcoin can soar.

I have also recently seen Thailand accept Bitcoin, now Germany. It is good news for the crypto world. I think this is a great success of Bitcoin, in the future there will be many other countries welcome Bitcoin. Investing in bitcoins is great for the future, I think.

[JoeG.Fuller123]

German court merely followed through with the EU (European Court) decision on sales tax regarding crypto from 2015. Other EU countries have to follow suit, too.

[baddertin9716]

The German financial authority states that Bitcoin can be traded as a good and is regarded as "private money", meaning buying BTC is not exempt from VAT as would buying Dollars be.
Especially, Germany DOES NOT recognize or endorse BTC as legal tender in any way.

[Yusuf_Jay]

Yeah, It's a great news and hopes it will to encourages the use of bitcoin by Germany citizen as a payment option as people will not be taxed. Of course, it's a good news for Germany citizen.

Other than that, German has founded an online bank that allows clients to transfer loans anywhere in the world using Bitcoin. (Source: https://www.reuters.com/article/us-germany-bitcoin/german-online-bank-uses-bitcoins-to-transfer-loans-idUSKBN1ID07Y)

[marcbitcoins]

The Ministry of Finance of Germany signed the Decree on recognition of bitcoin  legal tender.  The document specifies that purchases made for cryptocoins, are not taxed!What do you think about it?

Of course it will be a great news since then because Germany is a strong nation in which it could attract some nations to do the same. Its just amazing that Germany is imposing free of tax on Bitcoin in which it is an unexpected thing to do as most of the countries will rely much thru taxation. Hopefully my country will do the same too.

[DavidGBoydq232]

Unfortunately, the article is very wrong on a lot of points. Crypto is not recognized as legal tender over here. If you buy and sell crypto, you still have to pay income tax on your gains (and capital gains taxes on top if you hold less than a year).

[Rajamuda]

Good to hear that, that Germany recognized bitcoin, when I know that some countries have recognized bitcoin or legalized it.. as if I'm immediately hoped that in my country it could be like that.
Well about taxes, I think there are still things like the tax in cyberspace, even though the government hasn't yet declared an official tax on cryptocurrency. But still, in my opinion of course it will definitely be applied when it is already getting a fixed income on cryptocurrency.

[Linconde6654]

germany classifies it as property, too. You have to pay income tax when you sell it. The ruling regards merely sales tax.

[EdwardARiley109]

If you hold longer than a year (and haven't lent any), then there are no capital gains in Germany. If you hold less than a year, then it's taxed.

[Lukamovo918]

Germany's finance ministry has passed a law requiring Bitcoin to have the function of money, so the creation of Bitcoin would be considered as making money and paying taxes. Like shares, shares, any profits or trading using Bitcoin will be the target of a capital surplus in Germany, about 25%, and those who use it will also be subject to VAT.

[vessing]

The Germans have a strong fear of inflation, and rather this has shown such an interest in the virtually crypto currency that is not subject to this economic phenomenon

[AliceSusana88]

Income from commercial activities through Bitcoin may be taxable, however, if it is for personal use only, it will not be taxable in Germany.

[Masongrae]

Good for them, and a very good accomplishment of bitcoin. This will usher many in Germany to make use of bitcoin in their daily transaction. I do hope they can adjust even with its volatility. I believe this is a test of time that other countries will lookout and see and when they found out its good and effect in germany, other countries will already accept bitcoin and crypto.

[joelou]

The Ministry of Finance of Germany signed the Decree on recognition of bitcoin  legal tender.  The document specifies that purchases made for cryptocoins, are not taxed!What do you think about it?

Really?  That's good news for crypto world.  last time heard Thailand is now open for bitcoin now is Germany well that's nice. And  I hope more and more country will follow to open for bitcoin.

[brukva]

The Ministry of Finance of Germany signed the Decree on recognition of bitcoin  legal tender.  The document specifies that purchases made for cryptocoins, are not taxed!What do you think about it?

Really?  That's good news for crypto world.  last time heard Thailand is now open for bitcoin now is Germany well that's nice. And  I hope more and more country will follow to open for bitcoin.

This news was published in the spring.

[BrianDCampbell343]

The German Federal Ministry of Finance has announced that bitcoin should not be levied on conversion and used as a means of payment. The announcement proves that the most popular currency is a currency.

[KridNewoj]

If that is a true news ,then that is a great leap to bolters out the bitcoin to be accepted in the country of Germany ,which is a progressive country in europe.

[embargo]

Gradually, all countries must recognize bitcoin as a currency, a matter only in time. This is one of the items that should be implemented in the plans of the world government - the creation of a single world digital currency. Whether it is bitcoin is not yet clear, since bitcoin is an experiment.

[meanwords]

It's good thing that the Germany has recognized the technology of Bitcoin. It's actually good since it's not taxed and it is legal in the country. With this, investors from Germany won't have any problem anymore concerning the legality of Bitcoin. The only thing they should be afraid of is when they invest into other cryptocurrency,