Wednesday, February 28, 2018

Germany looking to be most crypto-friendly country



"Germany will regard bitcoin as the equivalent to legal tender for tax purposes when used as a means of payment."

"Germany won't tax bitcoin users for using the cryptocurrency as a means of payment."

"However, as per the EU ruling, the actual act of converting a cryptocurrency to fiat or vice versa is classified as a "supply of services," and therefore a party acting as an intermediary for the exchange will not be taxed."

"Miners who receive block rewards will not be taxed."

"Similarly, exchange operators that buy or sell bitcoin in their own name as an intermediary will receive a tax exemption."

Looks like Germany is trying to be the most crypto-friendly country!

read more about it at Coindesk here:

https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/