Germany gives tax exemption for bitcoin exchange operators

[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.