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Topic: In Germany, bitcoin was recognized as legal tender - page 7. (Read 1520 times)

full member
Activity: 938
Merit: 137
Yes, today I heard this news and was very happy. Bitcoin continues his victorious procession around the world. I hope that the example of Germany will be followed by other European countries, which will contribute to the even greater popularity of bitcoin.
If in this article the European Court of Human Rights is meant by the European Court of Human Rights, its decision is binding on all countries that have acceded to the Convention for the Protection of Human Rights and Fundamental Freedoms of December 4, 1950. That is, such a decision will be binding for virtually all European countries. This is a very good court decision and generally great news. All the states that signed this Convention, 41 states, are obliged to pass laws that do not contradict a specific decision of the European Court of Human Rights, and if the adopted laws contradict such a decision of the court, they must change their national laws to this decision of the European Court.
full member
Activity: 266
Merit: 151
First crypto index traded as a token!
Better wait for the outcome of the G20 discussion on cryptocurrencies this month. Then we'll know whether Bitcoin will be recognized as legal tender and only VAT will be taxed. However, it's more likely that governments would like to get more than just VAT and that profits from investing in cryptocurrencies will be taxed as speculation, which is 50%. Besides, cryptocurrencies will no longer be decentralized with these regulations.
newbie
Activity: 196
Merit: 0
absolutely agree with all of you, this is a huge step for Bitcoin and cryptomir in general, if the rest of the world follows the example of Germany, it will be great and bitcoin will grow in price and people will not have to come up with questionable schemes for its purchase or sale.
i think that was expected because there are alot of countries who will join this year and some rich companies as well so i think  its a very good news for bitcoin users because its users are going to increase and its a good sign its mean that bitcoin is going stable day by day.
sr. member
Activity: 1470
Merit: 325
full member
Activity: 490
Merit: 101
Yes, I also heard about Australia, then in the near future it will take on a massive character..we are already one foot in the future and it's already on the threshold
jr. member
Activity: 117
Merit: 1
sr. member
Activity: 676
Merit: 319
I think this is a success. Now we should expect another growth rate bitcoin. And the fact that they were abolished taxes is also very well
newbie
Activity: 98
Merit: 0
hero member
Activity: 882
Merit: 500
CryptoTalk.Org - Get Paid for every Post!
Ya, that's a great news Germany has legalized the Bitcoin. Bitcoin popularity grows continues, it's been attracting attention from government and financial institutions. And after this news more & more countries will come very soon to legalize Bitcoin. These such types of news take the market upwards.
It could start a trend. If the guys at Germany decide to ban it again then it will be harder to ban it with that history.
jr. member
Activity: 672
Merit: 1
Moderator
Ya, that's a great news Germany has legalized the Bitcoin. Bitcoin popularity grows continues, it's been attracting attention from government and financial institutions. And after this news more & more countries will come very soon to legalize Bitcoin. These such types of news take the market upwards.
full member
Activity: 490
Merit: 101
absolutely agree with all of you, this is a huge step for Bitcoin and cryptomir in general, if the rest of the world follows the example of Germany, it will be great and bitcoin will grow in price and people will not have to come up with questionable schemes for its purchase or sale.
hero member
Activity: 2646
Merit: 686
full member
Activity: 274
Merit: 133
Liechtenstein is located in Liechtenstein as its a sovereign nation  Wink  Its on the border of Switzerland and Austria.
But they do speak German so I would consider them to be german which is an offshoot of Germany. Grin
Sure they are on the borders but they take on rules from which country when it comes to their own laws?
Here is a better take on the article I searched for with a bit more explanation on what they are trying to do with their focus on cryptocurrency as a whole instead of a just a microcosm.
https://www.zerohedge.com/news/2018-03-01/liechtenstein-bank-offers-direct-cryptocurrency-investment-and-cold-storage-wallet
member
Activity: 280
Merit: 15
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It looks like Germany wants to attract cryptocurrency investors and services. It is a good idea but I'm afraid they might ban cryptocurrencies anyway in the future. I wouldn't move to Germany only because of that, just look what is happening in their country. However, it is good that some countries are positive about Bitcoin. If a was a head of my country, I would invest in this industry. It's still a good time to earn a lot.
full member
Activity: 331
Merit: 100
this is good news for all bitcoin holders, now more and more countries are recognizing bitcoin. this will make bitcoin prices continue to skyrocket, so let's invest more in bitcoin.
member
Activity: 266
Merit: 10
Great news for them at last they can operate freely in their transactions ,i wish this could also be done in my country
newbie
Activity: 224
Merit: 0
Recently some countries have accepted bitcoin, a few weeks ago I heard in Japan accepted bitcoin in the purchase transaction of Japan's largest consumer sales company, now I heard the German accepted bitcoin . This will probably make the crypto market more prosperous. But I think the later the crypto market will be more difficult. Because many participants will experience negative behavior in the market.
full member
Activity: 406
Merit: 100
I am happy to hear this news , one more country added for making btc a legal tender.I would like to see many more countries coming forward and move in the same direction as Germany has moved.I am hoping that in the future we will see many more countries would be on that list and make us all happy making the btc give a boost and even its price as well.Happy times ahead.
legendary
Activity: 2828
Merit: 2472
https://JetCash.com
I don't understand how any country can rule that Bitcoin is legal tender. Legal tender is a means of payment that has to be accepted in settlement of a debt. In view of the fact that only a minority of the population are able to receive Bitcoin, I don't see how any government can enforce a ruling that it must be accepted.
member
Activity: 266
Merit: 13
51
The Federal Ministry of Finance of Germany stated that purchases for bitcoins will not be taxed, since the crypto currency is a legitimate means of payment.

The Office published its decision on February 27. In the document, the regulator refers to the European Court's ruling of 2015, which sets a precedent for all EU member states.

The court ruling says that crypto-currencies are considered a legitimate means of payment and that therefore the transactions for the payment of goods and services with their help should not be taxed:

"So-called virtual currencies (crypto-currencies such as bitcoin) are considered equal to legal means of payment if these so-called virtual currencies have been accepted as alternative and contractual means of payment by the parties involved in the transaction and have no other purpose than to use as a method payment ».

Conversion of crypto-currencies to fiat and vice versa in the decision of the European Court is classified as "other taxable services". Thus, the party that acts as an intermediary in this exchange will not be taxed. It follows that the operators of crypto-exchange exchanges can receive exemption from taxes "if they complete the purchase and sale of bitcoin as an intermediary on their behalf".

Commissions to miners should also not be taxed, since they are paid on a voluntary basis.

We note that earlier this year the head of the Bundesbank Joachim Wuermeling (Joachim Wuermeling) said that the regulation of crypto-currency should be carried out on a global scale. And the head of the European Central Bank, Mario Draghi, believes that the ECB does not have such authority at all.

Currently, the European Commission is preparing an action plan to prevent financial crimes using crypto currency.


This is not new to be honest.
I'm german and this law, rule exists since late 2013. Due to defining Bitcoin and crypto in general as private money, there is no taxation when you buy goods and services with it.
However in terms of speculating on the markets, you have to pay capital gains tax if you hold your position shorter than 12 months.
Anything holding above 12 months is tax free.
So buy and hold pays off pretty huge in a long term Bitcoin bull run!
Isn't Liechtenstein located in Germany? I have always thought it was maybe in Austria but somewhere in Europe just from the name of this small city.
But they are the first bank that I was mentioning to start accepting cryptocurrency and thus must view it as legal tender to do that, no?
https://captainaltcoin.com/first-liechtenstein-bank-directly-sell-cryptocurrencies/

Liechtenstein is located in Liechtenstein as its a sovereign nation  Wink  Its on the border of Switzerland and Austria.
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