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Germany recognizes Bitcoin as private money, makes it tax-free for personal use

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    Germany recognizes Bitcoin as private money, makes it tax-free for personal use

    So far, governments have had polarized reactions to Bitcoin: they either recognize it as a fully regulated currency or ban it outright. Germany, however, has just taken a more nuanced position. The country now recognizes Bitcoin as private money that stays tax-free for personal uses, such as non-commercial internet auctions. You'll only have to pay taxes on business transactions. While the decision doesn't give Bitcoin as much weight as the euro, it should reassure Germans who want to stay on the right side of the law.
    [Image credit: Zach Copley, Flickr]
    Filed under: Internet
    Comments
    Via: RT News
    Source: Die Welt (translated)
    I said in search of my botni, not in search of my bhootni. Please stop sending me PMs.
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