Post
Topic
Board Bitcoin Discussion
Re: Germany gives tax exemption for bitcoin exchange operators
by
chalbinov
on 30/04/2018, 21:56:24 UTC
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.