Germany gives tax exemption for bitcoin exchange operators

[Jonsnowstark]

Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.

This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.

Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/

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[Basmic]

Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.

This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.

Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/

This is quite a logical explanation. I think this clarification has not yet been approved. Banks will oppose this approach. They will blackmail governments and perhaps some of them will go bankrupt. This could force the government to abandon such an idea and return to accepting bitcoin as property.

[d_fitrie]

bitcoin is instantly viewed as an investment but also as a currency, if it is given tax exemption on bitcoin exchange then this is great for bitcoin users in germany

[Red-Apple]

this is the right way of doing it, the way that these countries like Japan are treating bitcoin. all the rest such as US needs to accept the fact that bitcoin is a currency not  a commodity and then treat it as such and that helps with a fair taxation also.
hopefully more countries will join this movement.

[bitbunnny]

Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.

This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.

Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/

This is quite a logical explanation. I think this clarification has not yet been approved. Banks will oppose this approach. They will blackmail governments and perhaps some of them will go bankrupt. This could force the government to abandon such an idea and return to accepting bitcoin as property.

Blackmail and bankrupt? I don't see this as a possible scenario. Banks are not that strong afterall.
But since Germany is part of European Union this could be a good example for all other members to follow it.
Anyway I expect European Union to be positive environment for Bitcoin and other cryptocurrencies.

[Coffeehot]

this could be a lasting war . i think bitcoin will win . because the number of people holding bitcoin is increasing .bitcoin's influence is growing . when there are enough people , it can affect government policy . especially in the USA and Europe they would be the first to recognize the bitcoin as a currency .

[Rhaizan]

Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.

This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.

Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/

Only i can see about the bitcoin it is an investment, and you can be transact by online payment.
And I actually see bitcoin as a currency.

[Bendz]

Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.

This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.

Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/

very positive news for the development of bitcoin, because as we know Germany as one part of europe try to give a positive impact on bitcoin, hopefully this can be an example to other countries willing to follow the footsteps done by germany.

[Caelanpelley]

Germany exempts bitcoin operators. The German Federal Government has decided not to list Bitcoin and other codified currencies in the list of taxable goods. "Virtual money (eg Bitcoin) is considered to be equal to other legal means of payment, as long as these virtual currencies are accepted as a means of payment. Replace with the agreement between the parties involved in the transaction and no other purpose than to use for payment. "

[Lucius]

I do not know if anyone noticed the date of the article,it is almost 2 month old story and there is dozens thread on this topic here on forum.

However this is very important thing,and not only for exchanges-but for ordinary users who use BTC as a means of payment.So you can buy BTC on exchange and use it anytime as currency without worrying about some extra tax,user pay VAT anyway on every purchase.On the other hand, anyone who purchases BTC and hold it for 1 year or more can sell it and there is no obligation to pay taxes.

Germany has done a great job regarding rules and regulations in cryptocurrency,and since it is the strongest country in EU we can hope that some other countries will adopt similar laws.

[paul gatt]

Germany levies bitcoin extraction. This is an advantage for bitcoin investors in Germany. Thus bitcoin participants will make a lot of money without being taxed. In addition, the conversion of virtual currency to real money or vice versa falls into the category of "other taxable services." As a result, intermediaries who carry out the transaction will not be taxed. Under this provision, entities that act as a trading floor are also subject to tax exemption "if the floor acts as an intermediary representing the parties to the sale of Bitcoin."

[VitKoyn]

Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.

This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.

Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/

This is a great move by Germany, and I think other countries should also implement similar rules/law regarding this matter. Although there are still plenty of uses for Bitcoin as a currency or payment method, using Bitcoin as mode of payment should not be taxed because there are taxes (VAT) that people are already paying when purchasing goods, especially online products (but to be clear you will still be taxed on your gains in trading Bitcoin in Germany). While the US Internal Revenue Service is stupid to treat Bitcoin as property just to put tax on it. They should rethink the ruling that they are implementing to be fair with cryptocurrency users.

[svetochka.yakovleva.93]

This is great news for the residents of Germany, there are a lot of bitcoin holders in Germany , I believe that other States also need to follow the example of Germany

[bartolo]

Germany is doing nothing more than applying what was ruled by the Court of Justice of the European Union in 2015. The interesting thing about this news is that Germany is, together with France, the most important country and leader within the European Union and its decisions can have an influence on the rest of the EU member countries. It's interesting that, unlike France, Germany adopts a more crypto-friendly approach, closer to the approach of countries such as Portugal or Malta.

[Xester]

Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.

This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.

Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/

Germany really understands the nature of cryptocurrencies so their taxation was fair and just for these digital cryptocurrencies. Possibly they have seen cryptocurrencies as a currency and not as a property, stock or a commodity which is taxable. Taxing exchanges is the right way but the taxation is called the business and income tax. I salute Germany and this principle is also applied in the Philippines. Hope other parts of the world also uses this kind of fair taxation.

[ice18]

Its a good news for bitcoin ecosystem, I hope all other countries are really supportive into bitcoins and other cryptocurrencies like this countries like Germany and Japan.    

[BelieveInBTC]

I think that other countries should follow Germany and they should make cryptocurrency taxes more clear and lower in order to encourage investors to stay in their mother country. I don't understand why other countries try to get rid of Bitcoin even though there are many others who would gladly accept investors from them. Are politicians that much ignorant? What a pity, it looks like crypto investors will have hard time in my country. Time to consider moving out.

[Roman Coinson]

Germany is the most powerful and developed country in Europe and if such a country recognizes bitcoin as a currency, then this is a huge success!

[jayco25]

If bitcoin exchange and operators exempted or even  people using bitcoin its a good Idea and good new in crypto world more people will encouraged to use bitcoin in real world. Hope it will happen and not only in Germany but the entire world.

#Taklimakan

[ysakay]

I think this is a good news. If Germany will give tax exemption bitcoin exchange operators,That's mean Germany accepted crypto currency.

[batang_bitcoin]

If you'll start to read the whole article there are some glitched on the news although overall this is still a very good news. A country that starts adopting bitcoin whether they tax it or not just the acceptance or adoption of it is already important. Giving equivalent as legal tender seems to get a very good support from the ministry of finance.

That's mean Germany accepted crypto currency.

Yes this is the most important part of the news.

[Gulayman]

Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.

This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.

Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/

Wow, for me that is a great news and I wish I live in that country. This is prove that Bitcoin is a currency and not an asset. And I amaze because they cannot put taxes for the users of Bitcoin. Thumbs up, this is a beautiful news.

[bitart]

Idea:
What I would do is the following: opening a small shop at the biggest airport's duty free zone in Germany and would sell jewellery or anything that's small in size but really expensive and I would advertise myself with the bitcoin acceptance.
Also I would offer a kind of compensation (paying e.g. 50% of the airplane ticket to home) for the customers if they just fly to Germany to buy jewellery at the airport with bitcoin.
I know this sounds weird now, but if it's legal somewhere to spend your bitcoins, it can make people to think about visiting that place.

[HopeHK]

OP thanks for this.  It's extremely interesting and encouraging.

[audaciousbeing]

Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.

This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.

Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/

This narrative and the title the thread are negating each other. The report is about how Germany is considering taking this course of action as against taking a position. In the process of decision making, a lot of promises are always made but when its time to take a stance on it, that's when several variables start to play an important roles. That is to say until it becomes an action backed by legislation, its nothing short of speculation.

Even though, the news talks about Ministry of Finance releasing The Guidance, its still not sufficient to take a position because guidance can be reviewed without stress and every hopes given to crypto enthusiasts goes bleak compared to a law which the process to amend alone takes more time to make a new one.

[felicita]

yes iam from germany and we have even no regulation here in germany !
Our goverment is so low and allways behind everythink what happens in the internet
But still good to live her XD


regards

[Maestro75]

This should be great news but it is with mixed feelings for me. For me, I don't see any reason why bitcoin operators should be exempted from paying tax. I believe every business should be made to pay tax. There should not be any sympathy for anybody, including we bitcoin fans. Business should be treated as business and emotions should not come in.

[Kavallo]

Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.

This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.

Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/

This is an interesting news. Germans usually are some of the first ones willing to regulate whatever is still unregulated. Anything being unregulated is simply unbearable for them.

[BChydro]

This should be great news but it is with mixed feelings for me. For me, I don't see any reason why bitcoin operators should be exempted from paying tax. I believe every business should be made to pay tax. There should not be any sympathy for anybody, including we bitcoin fans. Business should be treated as business and emotions should not come in.

There is nothing weird in their decision, it is a good decision which accepts bitcoin as a legal tender and hope this rule will be used in all European countries and in my opinion the decision they made is the correct one, if you are converting the assets to fiat currency you will be paying your taxes and not for purchasing products with it.

[Snaic]

It should be borne in mind that such a decision in Germany was made on the basis of the decision of the European Court of Human Rights of 2015. They announced it. All countries that signed the European Convention for the Protection of Human Rights and Fundamental Freedoms of 1950, and there are forty one states, are obliged to implement the specific decision of this court and be guided by it as a source of law, that is, to change their existing laws to a specific decision of the European Court of Human Rights if the domestic laws of the country are contrary to such a judicial decision. This means that all other forty states will have to follow the example of Germany. They simply do not have a choice.

[pushups44]

If so, this is a step in the right direction. Sooner or later nations will have to come to terms with the emergence of cryptocurrencies. Nations that fight the trend will be left behind in innovation and wealth.

[Heart18]

The german federal ministry of finances considers bitcoin as tax-exemp so long as it is used as a means of payment.

[KingScorpio]

Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.

This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.

Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/

they do that because they know exactly that they cant burocratically divide 1600 and more cryptocurrencies on their countless pots. they have the most complicated tax system worldwide, so they instantly give up.

they didnt do that because they "like" cryptocurrencies.

[chalbinov]

Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.

This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.

Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/

This is great news, but how can we say that those who possess crypto aren’t in possession of an asset at their disposal to either keep, spent, and or trade with? Many of us have assumed that the largest issues with governments adopting BTC would be the ability to tax, followed by the ability to track assets. Germany could possibly even be making this move could be to attract and stimulate growth, somehow to their future advantage, making them a hub for legally recognized BTC activity.

[Nilda]

All nations should follow the lead of Germany. That’s the kind of government that every country should have. No wonder it is one of the most advanced countries in the world.

[damsix]

nice when there is no fee for Exchange Bitcoin, it can light up to the Bitcoin user.

but unfortunately if the tax does not exist for the Exchange may be the income of the country does not have the results of the Exchange earlier.

[Pursuer]

my guess is that the majority of countries in the world will eventually do the same (possibly in less than 5 years) as Germany, Japan, and other countries that did this, they will see bitcoin as a currency because they have no other choice and then only put taxes on when you convert your money to bitcoin meaning when you invest in it or trade it. which is the only logical move to make and it is the right way to go too.
right now the biggest country that has done this is Japan and I guess Germany will join them soon since Japanese merchants are already accepting bitcoin to benefit from the no tax option and attract more customers and increase their revenue.

[katulana]

   The German Federal Ministry of Finance recently said Bitcoin would be exempt if it was used as a means of payment in the transaction.
   On February 27, the German Federal Government decided not to list Bitcoin and other codified currencies in the list of taxable goods.
   This is also a precedent for all member states of the European Union.
   Explaining the decision has just been made, the court said coded money is considered a legal means of payment in this country.
   Represented by the court: " Virtual money (eg Bitcoin) is considered to be equal to other legal means of payment, as long as these virtual currencies are accepted as an alternative means of payment under the agreement between the parties. party involved in the transaction and no other purpose than to use for payment. "
   In addition, the conversion of virtual currency to real money or vice versa falls into the category of "other taxable services." As a result, intermediaries who carry out the transaction will not be taxed. Under this provision, entities that act as a trading floor are also subject to tax exemption "if the floor acts as an intermediary representing the parties to the sale of Bitcoin."
   The Court's decision also indicated that the pre-encoding operation was also tax exempt, as payment was made on a voluntary basis.
   These guidelines indicate that the views of Germany and the United States on the way they receive and manage Bitcoin are very different. In the United States, Bitcoin is considered an asset, so trading Bitcoins is a trading off of assets, so they are subject to tax.

[tungnhapchanvui]

I do not see this as a possible scenario.

[Liternyy]

the German government has done well since the beginning of the crypt development, Germany is one of the first countries to accept the crypto currency and support it, because it understands the value of crypto currency!

[tranduc2101]

I would like to become a German. Germany is a great country for the cryptocurrency. Bitcoin is now accepted in Germany and Bitcoin investors and operators in this country always receive the best incentives.

[piterpie]

I heard about this news. And I feel happy for those bitcoin miners in Germany. Currently, my country is banned from importing equipment that can exploit Bitcoin because the government of my country is still trying to destroy Bitcoin.

[fernandoclause]

Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.

This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.

Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/

I am happy with this news, suppose I live in Germany and maybe I will be able to see people buying coffee with bitcoin and they do not suffer from taxes imposed

[bere1993]

this is a good move by Germany towards the development of bitcoin.  With this move I think other countries will take a look towards bitcoin.Bitcoin should be treated as a currency not as a commodity or an asset. People can use this for their day today transactions which makes their lives easy. Germany is a member country of European Union and I think that due to its power many countries will treat bitcoin as a currency following germany. I wish this happens in entire world in near future

[iammrash]

This is just the beginning..  With more country will accept bitcoin as a legal currency..  The more bitcoin will become popular. Soon bitcoin gonna rule the world..

[silviyako]

Other countries should follow this. Treat bitcoin as a currency and not an asset. Just like japan.  We need to have more countries like this

[Kertmu]

Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.

This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.

Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/

"Virtual currencies (cryptocurrencies, e.g., Bitcoin) become the equivalent to legal means of payment" - This is the most important thing, you can not read further.

[CryptoCoin8487]

Germany is one of the most advance country in the world also so maybe they are trying to start defirent kinds of payments if which is good in there country. I hope all country will do like that in the future too.

[gidaahmad]

Good move. At least there is mutualism between the government and the owners of the Exchangers. As long as they do not mind to pay taxes on their profits.

[brooklynian]

Good news from Germany. The country has been the major source of good news for the cryptocurrency world, so friendly. This will help the exchanges to be more competitive. Many of the other countries will have to learn from Germany and know that cryptocurrency can no longer be eradicated.

[williamcastaneda]

Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.

This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.

Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/

it looks like I'm going to vacation in Germany and try to buy coffee using bitcoin

[wtbhitlv]

This can be seen as a part of Germany's open attitude towards bitcoin, which does not impose a tax on bitcoin exchange operators using bitcoin to drive the industry as a whole.

[Crypto24hrs]

The German federal authority published decision not to subject purchases with Bitcoin and other cryptocurrency to taxes on Feb. 27, citing the European Court’s 2015 decision, which set a precedent for all members of the European Union is indeed another mile stone to the journey of Bitcoin been accepted globally as a means of payment may we all continue with our good work of advocating for crypto.

[andika2018]

Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.

This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.

Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/

Germany is advance country and they already accepting bitcoin for payment. Its good for germany peoples because in many country, bitcoin still banned and prohibited for payment. If many country following germany step, i am believe bitcoin will growing more faster and become popular currency beside fiat money and peoples will start using it because its more flexible and more safe

[drm]

the German government has done well since the beginning of the crypt development, Germany is one of the first countries to accept the crypto currency and support it, because it understands the value of crypto currency!

I hope this kind of legislation will go through to all the EU countries, let Germany take the lead for now.

[mwpakpak]

I see Germany is clever on this move, crypto will be the future of the world and this move will attract ICO to build exchange operators in their countries and at the same time the crypto users in Germany will grow as well which is good news to crypto space. 

[suraza21]

In Germany this country will not levy taxes on bitcoin users if the codified currency is used as a means of payment. Exchange service providers who buy or sell bitcoin in their own name as intermediaries will be tax-exempt,

[Ucy]

Looks like Governments are working even harder to attract and trap these hugh Centralized exchanges...and eventually used them as bargaining tools.
Centralized exchanges are Cryptocurrency major weak points.
Unfortunately only one is taking decentralization seriously.

[bangkecol]

if in a country has been taxed for a business, that means that the business has been recognized by the country. as said on this topic, if Germany has provided tax fees for bitcoin this means that Germany has recognized that bitcoin is legal in its country.

[Catch-22]

Other countries should follow Germany’s lead. That is how you embrace, adopt and promote cryptocurrency. Instead of banning bitcoin. Nothing attracts investors more than the words tax-free.  

[brooklynian]

Germany is doing a great job towards cryptocurrency adoption. This is one country that is not making anything difficult for a Cryptocurrency user. If we can have more countries like Germany in cryptocurrency, meeting the mass adoption target will not an issue.

[xtrump101]

bitcoin is instantly viewed as an investment but also as a currency, if it is given tax exemption on bitcoin exchange then this is great for bitcoin users in germany

exactly and i salute to the german government of making this posible, this will benifited greatly to those people that doesnt have bank accounts and to the displace people in germany came from syria as well,

[menammeo]

The German Federal Government has decided not to list Bitcoin and other electronic currencies in the list of taxable goods on February 27 in the European Court. This is also a precedent for all member states of the European Union.
The court explained its tax decision by declaring that it considered electronic money as a legal means of payment:
"Virtual currencies (such as Bitcoin) are considered to be equivalent to legal means of payment, as long as the virtual currency is accepted as an alternative payment method and as agreed by the parties. and no purpose other than to be used as a means of payment. "
By decision, transfers from virtual currency to real money or vice versa fall into the category of "other taxable services." As a result, intermediaries who carry out the transaction will not be taxed. In addition, crypto trading floors may also be exempted "if the floor acts as an intermediary representing the parties making the purchase of Bitcoin."
The court decision also noted that e-money mining operations would also be tax exempt because they were paid on a voluntary basis.

[xbossJ]

Countries that understand the tech will stop at nothing to pass on policies that seek to promote the tech! Germany has never shied away from the fact that $Bitcoin is not something you ignore! With moves like this, you can only imagine the number of exchange operators that would make germany a destination! People who know that commodity money is inevitable with cryptocurrencies are those who understand that an economy to reckon with can emerge from here! I hope more countries learn from Germany!

[doodle07]

A great move and this is how a country should be dealing with crypto currency especially on bitcoin. I believed that this policy of Germany will attract more investors because of these tax exemption, I hope that one day other countries will be like the government of Germany they recognized crypto currencies and dealing with it in the right way.

[thankyoulord]

I know this is a move that will invite more investors to the German soil and open more windows of opportunities for the tech industry to thrive in Germany. But my question is, if the German government decides to exempt tax payment for Bitcoin, won't it be unfair to other industries that exist in Germany? The country could be basking a whole lot from tax and this will improve the development by far, so how do the government think that this is a progressive move instead of a retrogressive one.

[jcarlo]

Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.

This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.

Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/

Germany is one of few country with good regulation on new technology and economic improvement. Its good for germany citizen because they can use bitcoin in merchant and spend their bitcoin for their daily need

[walemil]

This is another very good news from Germany - one of the world's largest economies. I have no doubt that doing this alone will add greater value to their economy as it will make it more attractive to cryptocurrency users. I hope this exchanges will in turn reduce their fees.

[hermankoles]

this is a great opportunity to invest in digital currencies rather than as assets or digital products. no tax and provide good profits why many countries still doubt it. The fear of many countries is that I am unwarranted and this is too made with many hidden intentions

[brooklynian]

Germany is now a major cryptocurrency friendly country that I know. I am feeling that some people may relocate from their hostile countries to Germany or any other cryptocurrency friendly country. It will be far better for cryptocurrency if we have governments that are selfless and ready for innovation.