Germany Approves Cryptocurrency As Legal Means Of Payment

[entrepmind23]

If it would be tax exempt then more people would be encourage to use it. I hope that this decision would have a positive effect so that other countries would make their decision as a model and then follow suit which would be a positive thing if cryptocurrency transactions would not be tax. I think there is a limitation to the amount though because if the amount is pretty significant then the tax from that is significant as well and it will be beneficial to the government if they will have a share of it.

However, if more people are encourage to use cryptocurrency, the banks will be threatened and they will start a move again to discourage people. They wouldn't want their competition to get ahead of them.

[Rajamuda]

I think Germany has become a more advanced country and has been managed to adapting well to a new things that was proven to ease the burden on many people in the financial and other benefits.
I didn't run out to think.. will the most countries to responds more positively and support the existence of crypto (bitcoin) that can helping many people. Also of course crypto could be an alternative currency that makes it easy to transact but without forgetting the regular currency.

[Coffee135]

If it would be tax exempt then more people would be encourage to use it. I hope that this decision would have a positive effect so that other countries would make their decision as a model and then follow suit which would be a positive thing if cryptocurrency transactions would not be tax. I think there is a limitation to the amount though because if the amount is pretty significant then the tax from that is significant as well and it will be beneficial to the government if they will have a share of it.

However, if more people are encourage to use cryptocurrency, the banks will be threatened and they will start a move again to discourage people. They wouldn't want their competition to get ahead of them.

Why do you think that Germany will not take taxes from bitcoin users? It won't be. In Germany very meticulously to pay taxes. There, withholding taxes is a very big crime. No benefits for users of the cryptocurrency will not happen. The Germans do not want to stimulate the development of the popularity of cryptocurrency. They want to have tax on what they can't stop.

[kaizerblitz]

That's goodnews for the crypto community Germany has a big contribute when it comes in crypto i wishi i live there.

[Ilaybit]

Germany is a very strong country economically or we can say that it is the leader. They stepped out with this great news which is going to be a big push to crypto. Maybe we will not see that right away, but it is a big step forward definitely.

[lhgirl]

As more countries will follow Germany as more value will have crypto world, hope to hear more positive news, I already hate this red color in my portfolio

[StonedWolf]

Since this news come from Germany, it is not really that surprising. After all , it is a well developed country that adapt fast to new technologies .In fact, they are used to be at the top because they precede other nations in such revolutionary decisions. I hope other countries will follow them soon.

[avikz]

Wow!! That's a good news! Germany is the 4th largest economy of the world and one of the top countries to have the highest per capita income. So when such encouraging news comes from such a country, it's a good news for the entire crypto economy. I am sure we will see an influx of new investors in the crypto market soon which will provide a strong support to the bitcoin price which is needed. I really hope other countries in EU will soon adopt the way Germany adopted the crypto currency for a better future. 

[ahmad21]

I am pretty happy that Germany has finally approved it as a means of payment and has even exempt it from tax in regular course of trade. But what I am astonished with is that still it hasn't given such a great impact on the price of btc. This kind of news is really capable of giving a good bull run but still people are in a FUD. With time as more and more countries will bring such regulations I hope btc will rise.

[Granxis]

I see the German interest in crypto money, but Germany is a country that wants to stay in background. For this reason they hesitates to say concrete things. Germany's strict management and discipline will manage the crypto money.

[Rooster101]

Germany proves itself as the bitcoin capital of Europe by allowing bitcoin as legal currency for trading and tax purposes and it said to be a one step closer by declaring it a unit of account. Many people also hopes that the German government will not interfere  with it success referring to a possible taxation and regulation. But some reports says that Germany's ruling opens the way for officials to collect tax on commercial profits made through bitcoin transactions.

[normensky012]

Yes, such a good news and bold move for Germany. A country with a wide technological scope should be a great model of how promising technology like blockchain should be utilized and not scrutinized. This decision will have a positive economic and technological impact in the country. My friend in Germany was also happy with the decision their government has done.

[elena_rose19]

This is a good news for the cryptocurrency users in Germany however this can be an indication of a country trying to regulate the cryptocurrency. But for me this is better than having it banned. Some countries are still not decided on hiw to deal with crypto but at least Germany already made a decision with it. That I think is in favor for German crypto users.

[kaizerblitz]

Oh goodnews for us i wish i would live in germany and buy many more cryptocurrency i hope in my country would to that.

[hacekd]

I can add that the concrete decision of the European Court of Human Rights is a source of law and is binding for all states that signed the Convention for the Protection of Human Rights and Fundamental Freedoms of 1950. This is 41 states in Europe and in general in the world. These states will be obliged to amend their laws to ensure that their laws comply with a specific decision of the European Court of Human Rights. Thus, this judgment is crucial for the crypto currency, since these countries will be obliged not only to recognize the crypto currency as a legitimate means of payment, but also to free from taxation operations on converting crypto currency to fiat and vice versa.

Germany disclosed to ban cryptocurrency including bitcoin, because the type of currency it requires rules of international scale. This is because the national or regional rules made by each country are not strong enough to be implemented.

[signalbitbot]

This is great news for bitcoin and for Germany. I believe that to prohibit bitcoin - there is no sense.

[Mobius88]

On Monday, Germany's finance ministry brought Bitcoin one step closer to legitimacy by declaring it a "unit of account," thus allowing it to be used as legal currency for tax and trading purposes. Supporter and parliament member Frank Schaeffler says that classifying the virtual currency under the country's banking rules represents "a first step" towards denationalizing the production of money, and hopes that the government doesn't interfere with its success: "A free country should...not intervene in citizens' private choice of money."
As Bitcoin continues to grow in popularity, it's been attracting increased attention from government and financial institutions. Germany's ruling opens the way for officials to collect tax on commercial profits made through Bitcoin transactions, which FOREX.com research director Katherine Brooks says is "a good example of German forward-thinking...[Bitcoin] could become an alternative to the euro if the single currency ever ceased to exist." BTCBTCBTC

[Mobius88]

Anyway it's a huge credit of trust to cryptocurrency from Germany to let people give it a try  of course it's not going to be set up in a few days, but we are talking about our future economy system. I don't want to see my kids being afraid of technology: we should control and develop it according our needs - not opposite

[marielbeckham]

Well, good news. And probably we'll see soon that many other countries all over the world will follow the great example of Germany.

[Coffee135]

On Monday, Germany's finance ministry brought Bitcoin one step closer to legitimacy by declaring it a "unit of account," thus allowing it to be used as legal currency for tax and trading purposes. Supporter and parliament member Frank Schaeffler says that classifying the virtual currency under the country's banking rules represents "a first step" towards denationalizing the production of money, and hopes that the government doesn't interfere with its success: "A free country should...not intervene in citizens' private choice of money."
As Bitcoin continues to grow in popularity, it's been attracting increased attention from government and financial institutions. Germany's ruling opens the way for officials to collect tax on commercial profits made through Bitcoin transactions, which FOREX.com research director Katherine Brooks says is "a good example of German forward-thinking...[Bitcoin] could become an alternative to the euro if the single currency ever ceased to exist." BTCBTCBTC

If the Director of the Forex really makes such statements then he is a stupid idiot. Germans really far-sighted and clever nation. They will never take such a stupid step to make cryptocurrency state. Even if the Euro dies. They can always easily return to the Deutsche mark. Probably Katherine Brooks wants to destroy the German economy.