Germany gives tax exemption for bitcoin exchange operators

[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.