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Topic: [2013-08-19] CNBC - Bitcoin recognized by Germany as 'private money' (Read 932 times)

hero member
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Even CNBC can't misreport stuff like this. They probably reported it through gritted teeth though.
legendary
Activity: 1330
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Mining since 2010 & Hosting since 2012
legendary
Activity: 1330
Merit: 1026
Mining since 2010 & Hosting since 2012
Note:  Not sure if this article got much attention?


Quote
Virtual currency bitcoin has been recognized by the German Finance Ministry as a "unit of account", meaning it is can be used for tax and trading purposes in the country.

Bitcoin is not classified as e-money or a foreign currency, the Finance Ministry said in a statement, but is rather a financial instrument under German banking rules. It is more akin to "private money" that can be used in "multilateral clearing circles", the Ministry said.

http://www.cnbc.com/id/100971898
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