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Germany's 2nd Largest Stock Exchange Launches Crypto Trading App

Germany's 2nd Largest Stock Exchange Launches Crypto Trading App

Join our community of 10 000 traders on Hacked.com for just $39 per month. The Bison app, which was developed byBoerse Stuttgart, will be available to cryptocurrency traders in the fall.Germany is taking the lead amongretailexchanges tapping into the cryptocurrency base. Sowa Labs, a fintech subsidiary of Boerse Stuttgart, Germanys second largest stock exchange for retail derivatives, has launched Bison, a mobile app for trading cryptocurrencies. Bison will support trading in bitcoin, Ethereum, Ripple and Litecoin. More coins will be supported soon. The Bison app rivals the likes of Robinhood in that there are zero trading fees. Meanwhile, its a sign of the times that retail exchanges are starting to emerge from the sidelines to participate in the rise of cryptocurrencies. It is the first crypto app in the world to have a traditional stock exchange behind it, according toSowa Labs Managing DirectorUlli Spankowski quoted in Finextra . Meanwhile, the fact that Bison is backed by a leading regional exchange bolstersits profile for user security. Its not just a fly-by-night trading platform. Bisons key feature is zero trading fees. Users can trade cryptocurrencies for free in the app, said Spankowski. The exchange added that crypto wallets are not needed. Instead, users can simply download the app to start trading. Traders will have to wait till September, the press release states , at which time the app will be available for no charge.Bison is being unveiled this weekend in prototype format at a Stuttgart trade fair for investors. The mobile interface is currently in the German language but an English version is planned as well. Traders often bemoan the hoops they have to go through to trade bitcoin and altcoins under know-your-customer (KYC) and anti-money laundering (AM Continue reading >>

German Ministry Of Finance Provides Guidance On Bitcoin Taxation

German Ministry Of Finance Provides Guidance On Bitcoin Taxation

German Ministry Of Finance Provides Guidance On Bitcoin Taxation German authorities have shed some light on cryptocurrency tax implications. On February 27, 2018, the German Federal Ministry of Finance, Bundesministerium der Finanzen, released a message to the public clarifying that it would not tax cryptocurrencies such as bitcoin when they are used in payments. According to the document, when used for purchases, cryptocurrencies will receive the same tax treatment as legal tender. The ministry cited a 2015 European Union Court of Justice judgment pertaining to value-added taxes (VAT) as the basis for the decision. A translated excerpt from the ministry's recently issued document affirms the legality of cryptocurrencies as a payment method: "Virtual currencies (cryptocurrencies, e.g., Bitcoin) become the equivalent to legal means of payment, insofar as these so-called virtual currencies of those involved in the transaction as an alternative contractual and immediate means of payment have been accepted and no other purpose serve as a means of payment." For purchases, taxes will be calculated (in accordance with the EU's VAT Directive) based on the converted value of the cryptocurrency's fiat pair value at the point of sale, which is reported by the vendor. In addition, taxes may also be applied to fees collected by providers of digital wallets and other types of services relating to cryptocurrencies. Taxes will not be applied to block rewards sent to miners. Likewise, intermediaries who facilitate cryptocurrency conversions to or from fiat currency would not be considered liable for taxes. The EU ruling considers such conversions a "supply of services" that are tax exempt. Intermediary operators of exchanges that purchase or sell cryptocurrencies will also be exempt, b Continue reading >>

Germany Cryptocurrency Startup Jobs

Germany Cryptocurrency Startup Jobs

Only companies you apply to will see you're looking for a job.Your current boss won't know. Compare jobs using our startup salary tool . Speak directly to the startup's founders. Hello! We are hackmind.ai and we fund hackers and scientists in a 6 month program. Twice a year, 50 scientists and engineers get to build deep tech companies from ideation to launch. No business ideas needed. We see the combination of talent,... Full Time Berlin Talent Acquisition HR Recruiter Talent Acquisition, Recruiting, Technical Rec As our new HR Administrator, you join and support our team and many programme participants. You're excited to join a startup in the heart of Berlin and you will get to support many more of our participants and their own new startups as they... Full Time Berlin Talent Acquisition Payroll Legal Visa Processing Hello! We are hackmind.ai and we fund hackers and scientists in a 6 month program. Twice a year, 50 scientists and engineers get to build deep tech companies from ideation to launch. ). No business ideas needed. We see the combination of talent,... Full Time Berlin Entrepreneurship Public Relations We are assembling an all-star team in Berlin to push the boundaries of algorithmic trading and fire-up the cryptocurrency revolution.Your role is to:-Develop the next generation of our AI model.-Research and experiment new approaches to push... Full Time Berlin Python Machine Learning Artificial Intelligence Deep Learning We are assembling an all-star team in Berlin to push the boundaries of algorithmic trading and fire-up the cryptocurrency revolution.Your role is to:-Help with the design, development and monitoring of our core infrastructure.-Handle numerous... Full Time Berlin Python Database and Systems Design DevOps AWS Cloud Services Your role is to:-Opti Continue reading >>

Bitcoin Taxation In Germany

Bitcoin Taxation In Germany

Bitcoins are neither regular money nor e-money Unlike the euro (considered fiat money), Bitcoins and other cryptographic currencies are not legal tender. A legal obligation to accept Bitcoins therefore does not exist. Whether a seller of goods or services wants to accept Bitcoins is thus purely a question under private law, which the seller can and must answer on his own. Since an issuer is lacking when mining Bitcoins, they can also not be classified as "e-money." BaFin clarified this unambiguously most recently on December 19, 2013. For the tax treatment of Bitcoins this means that they must be treated as ordinary intangible assets at least for purposes of income tax law. The specific tax questions of Bitcoin transactions continue to be dependent on whether the transactions are made in the private domain or in the business sphere. Taxation on Bitcoin transactions for German retail investors A sale could be the sale of Bitcoins for euros via a trading platform. However, the use of Bitcoins as a means of payment also constitutes a sale, if the Bitcoin owner uses Bitcoins to pay for the acquisition of goods and services. In both cases, private sales transactions also known as "speculative transactions" exist within the meaning of Section 23(1) no. 2 of the German Income Tax Act. For tax purposes, the classification as an object of speculation means that capital gains are completely tax-exempt after a holding period of at least one year. If the sales transaction is made within the one-year holding period, at least a tax exemption limit of EUR 600 p. a. is effective the tax exemption limit applies, however, to all private sales transactions in the relevant year, therefore relates not only to Bitcoin transactions of the taxpayer. The capital gains subject to taxation arise Continue reading >>

Germany To Free Cryptocurrency Payments From Capital Taxes

Germany To Free Cryptocurrency Payments From Capital Taxes

Germany to free cryptocurrency payments from capital taxes The German finance ministry said it will not levy taxes on cryptocurrencies if they are used as legal tender. The resolution follows the decision of the European Court of Justice, which sets a precedent for other states of the European Union. The German Federal Ministry of Finance (BMF) published a new manual, according to which bitcoin and other cryptocurrencies are excluded from taxation if they act as a payment instrument. "The use of bitcoin is equal to the use of ordinary means of payment if they serve no other purpose than the method of payment. Thus, the use of bitcoin for simple payments is not taxed," the document says. From the taxation point of view, this means that when the buyer pays with bitcoins buying goods or services, an article of the EU's VAT Directive will be applied to the price of bitcoin at the time of the transaction, as documented by the seller. However, the actual conversion of cryptocurrency into fiat money is classified as a "supply of services," so the party acting as an intermediary for the exchange is not taxed. The document is based on the Decree of the European Court of Justice on Value Added Tax of 2015, which forms a precedent on possible exceptions for certain types of transactions with cryptocurrencies for all member states of the European Union. Continue reading >>

Germany Lures Cryptocurrency Financiers From The Us

Germany Lures Cryptocurrency Financiers From The Us

German ICO investor, unencumbered by regulation. Source: Imago As authorities in the US tighten their regulations for cryptocurrencies like Bitcoin, upstart financiers are turning to countries in Europe to raise funds from Initial Coin Offerings, or ICOs. Paradoxically, Germany widely regarded as a digital laggard whose society is stuck in the hard-cash era is drawing more ICO projects than ever before , thanks to startling laxness in its financial laws. Experts point to Germanys stable economy, burgeoning startup scene and oddly relaxed attitude towards initial coin offerings, which makes it similar to that of Switzerland and tax havens like Gibraltar and the Cayman Islands. Alarmed at the potential for dubious dealings, German politicians have called for a crackdown on the Wild West of lawless ICOs, and for greater clarity from financial regulators. ICOs are similar to initial public offerings, or IPOs, in which companies float on the stock exchange. Rather than receive shares, investors get crypto tokens or coins that are ostensibly linked to the companys future value and are cryptocurrencies in their own right. They tend to be a purely speculative investment and their buyers, who often pay in Bitcoin, usually have no voting rights in the company. Bitcoin and other cryptocurrencies run on blockchain or their own version thereof a digital ledger that records transactions, called blocks, and validates each new transfer from several, independent sources. As the value of cryptocurrencies soared last year, ICOs also flourished. In 2017, companies are thought to have raised around $5 billion (4.1 billion) through ICOs, according to Coindesk, a cryptocurrency news service. Continue reading >>

Germany Won't Tax You For Buying Coffee With Bitcoin

Germany Won't Tax You For Buying Coffee With Bitcoin

Germany Won't Tax You for Buying Coffee With Bitcoin Feb 28, 2018 at 22:00 UTC|UpdatedMar 1, 2018 at 12:57 UTC Germany won't tax bitcoin users for using the cryptocurrency as a means of payment, the Ministry of Finance has said. The guidance, published Tuesday, sets Germany apart from the U.S., where the Internal Revenue Service treats bitcoin as property for tax purposes - which means that if an American buys a cup of coffee with bitcoin, it's technically considered a sale of property and potentially subject to capital gains tax . Instead, Germany will regard bitcoin as the equivalent to legal tender for tax purposes when used as a means of payment, according to a new document. The Bundesministerium der Finanzen based its guidance on a 2015 European Union Court of Justice ruling on value added taxes (VAT). The court ruling creates a precedent for European Union nations to tax bitcoin while providing exemptions for certain types of transactions. Notably, the new German document justified its tax decisions by regarding cryptocurrencies a legal method for payment, stating: "Virtual currencies (cryptocurrencies, e.g., Bitcoin) become the equivalent to legal means of payment, insofar as these so-called virtual currencies of those involved in the transaction as an alternative contractual and immediate means of payment have been accepted." For tax purposes, this means that converting bitcoin into a fiat currency or vice versa is "a taxable miscellaneous benefit." When a buyer of goods pays with bitcoin, an article of the EU's VAT Directive will be applied to the price of bitcoin at the time of the transaction, as documented by the seller, according to the document. However, as per the EU ruling, the actual act of converting a cryptocurrency to fiat or vice versa is classifie Continue reading >>

Germany Will Not Tax Individuals Using Cryptocurrencies As A Means Of Payment

Germany Will Not Tax Individuals Using Cryptocurrencies As A Means Of Payment

By Carlos Terenzi in Cryptocurrency News Home Good news that may impulse crypto adoption in Germany. According to the Ministry of Finance, Peter Altmaier, individuals that use cryptocurrencies as a means of payment will bot be taxed. In a moment when the whole world is discussing major crypto regulations, this information allows crypto users in Germany to feel there is an intention of wider use of cryptocurrencies. Germany Supports Cryptocurrencies as a Means of Payment Germany is taken a completely different approach to cryptocurrencies compared to the United States. As in the US, the Internal Revenue Service considers bitcoin and other cryptocurrencies as property for tax purposes, a simple transaction of cryptocurrencies may be considered a sale of property, thus, subject to capital gains tax. In Germany, if you transact cryptocurrencies for goods or services, the virtual currency involved will be considered as a means of payment. The Bunderministerium der Finanzen followed a 2015 European Union Court of Justice ruling on value added taxes. The court ruling sets a precedent for EU nations. They are able to tax bitcoin but providing exemptions for certain type of transaction. The document about the tax decision stated: Virtual currencies (cryptocurrencies, e.g., Bitcoin) become the equivalent to legal means of payment, insofar as these so-called virtual currencies of those involved in the transaction as an alternative contractual and immediate means of payment have been accepted. If an individual decides to buy something using bitcoin or other cryptocurrencies, an article of the EUs VAT Directive will apply to the price of Bitcoin when the transaction is processed. Following the EU ruling, converting crypto to fiat or fiat to crypto, the transaction is considered as Continue reading >>

Germany: National Tourism Center Adds Cryptocurrency Payments For Services

Germany: National Tourism Center Adds Cryptocurrency Payments For Services

Germany: National Tourism Center Adds Cryptocurrency Payments For Services The German National Tourist Board now accepts Bitcoin and other cryptocurrencies as a form of payment. The German National Tourist Board (GNTB) is now accepting Bitcoin and other cryptocurrencies as a form of payment for its services, Cointelegraph auf Deutsch reported March 27. "Within our strategy for digitalization we continuously look at the most recent technologies and trends and see whether they can be implemented into our company, said Petra Hedorfer, CEO of GNTB. The marketing organization said it was interested in testing cryptos underlying Blockchain technology for their finance operations and might use it for international payments. As a global company, the GNTB wants to set an example as a [driver of innovation] and leader for the tourism [industry], Hedorfer continued. As a national tourism board, Frankfurt-based GNTB is subject to the Federal Ministry of Economy and Energy , from which it also receives funding. GNTB aims to develop and communicate strategies and products to positively represent Germany as an attractive travel destination. For this purpose the organization operates 32 agencies abroad. In late February 2018, the Federal Ministry of Finance declared virtual currency as acceptable tender for payments in accordance with precedent set by the European Court in 2015. Germany intends to cooperate with the EU and other countries in the formation of regulations for trading platforms and initial coin offerings (ICOs). The first detailed regulations for operators of ICOs in Germany were passed in late February by the Federal Financial Supervisory Authority (BaFin), which has authority over the crypto space due to a current lack of specific legislation. Continue reading >>

Germany Approves Cryptocurrency As Legal Means Of Payment

Germany Approves Cryptocurrency As Legal Means Of Payment

> Germany Approves Cryptocurrency as Legal Means of Payment Germany Approves Cryptocurrency as Legal Means of Payment Germany Approves Cryptocurrency as Legal Means of Payment The German Federal Ministry of Finance would exempt tax payment from bitcoin and other cryptocurrency transactions used as a means of payment. On Tuesday Feb. 27, the German Federal Authority issued a statement announcing its decision to consider purchases with bitcoin and other cryptocurrencies as tax exempt, citing the 2015 judgment of the European Court, The German Federal Ministry of Finance would exempt tax payment from bitcoin and other cryptocurrency transactions used as a means of payment. On Tuesday Feb. 27, the German Federal Authority issued a statement announcing its decision to consider purchases with bitcoin and other cryptocurrencies as tax exempt, citing the 2015 judgment of the European Court, which set a precedent for all members of the European Union. With the newly introduced tax laws, Germany will regard cryptocurrencies as equivalent to legal tender when used as a means of payment. The German tax statement reads: Virtual currencies (cryptocurrencies, e.g., Bitcoin) become the equivalent to legal means of payment, insofar as these so-called virtual currencies of those involved in the transaction as an alternative contractual and immediate means of payment have been accepted. According to EUs directives, a conversion from crypto to fiat or vice versa is classified as other taxable services. This means that a tax exemption benefit shall be implemented for transactions that involve exchanging cryptocurrencies to fiat currency and vice versa. Under this provision, cryptocurrency exchanges operating in the country can also benefit from tax exemptions acting as intermediaries for e Continue reading >>

Cryptocurrencies Are Equal To Legal Tender. In Germany By Law. - Cryptocurrency

Cryptocurrencies Are Equal To Legal Tender. In Germany By Law. - Cryptocurrency

Cryptocurrencies are equal to legal tender. In Germany by law. Cryptocurrencies are equal (treated under certain circumstances) to legal tender. This is Statement of the German government in a new 27.02.2018 VAT law. I think this could bee the way how G20 will discuss cryptos for whole EU. FOMO. Linked to the PDF on Minster of Finance site (in German) with original text: Summary taken from. Cryptocurrencies are equal to fiat if they are used as payment and both sides agreed. Edit: the part about legal tender is wording in the legal text... Of course it doesn't mean you can go to the next supermarket and force them to be paid with Bitcoin.For Crypto as an investment you have to pay taxes. Sorry for my hype, but I think it is great news anyway. Read more about this in comment by phobos0815 This is the original text from the legal text. (3a) 1Sog. virtuelle Whrungen (Kryptowhrungen, z.B. Bitcoin) werden den gesetzlichen Zahlungsmitteln gleichgestellt, soweit diese sog. virtuellen Whrungen von den an der Transaktion Beteiligten als alternatives vertragliches und unmittelbares Zahlungsmittel akzeptiert worden sind und keinem anderen Zweck als der Verwendung als Zahlungsmittel dienen (vgl. EuGH-Urteil vom 22. Oktober 2015, C-264/14, Hedqvist, BStBl 2018 II S. xxx). 2Dies gilt nicht fr virtuelles Spielgeld (sog. Spielwhrungen oder Ingame-Whrungen, insbesondere in Onlinespielen). Continue reading >>

Cryptocurrency Regulation Must Be Global, Says German Central Bank Official

Cryptocurrency Regulation Must Be Global, Says German Central Bank Official

Cryptocurrency Regulation Must Be Global, Says German Central Bank Official A German central bank official said that the only way to effectively regulate bitcoin and other cryptocurrencies is to pursue a global framework with the greatest possible international cooperation. Director of Germanys Central Bank Calls for Global Cryptocurrency Regulation Speaking an event in Frankfurt, Deutsche Bundesbank director Joachim Wuermeling said that effective regulation is only possible at the international level, according to a Reuters report. Effective regulation of virtual currencies would therefore only be achievable through the greatest possible international cooperation, because the regulatory power of nation states is obviously limited, Wuermeling said. To date, cryptocurrency regulation has largely been a piecemeal effort at the national level, reflecting the differing stances that governments have taken toward this new technology. Many nations, such as the US and Japan, have thus far sought regulatory frameworks that protect retail investors without stifling innovation. Others, though, have adopted hostile stances. China once the world leader in both cryptocurrency trading and mining forced the closure of all domestic bitcoin exchanges last September, and the Peoples Bank of China (PBoC) is currently working to make the country less hospitable to miners , forcing them to move to other regions. While naysayers predicted Chinas hostile regulatory framework would spell doom for bitcoin, what actually happened served to confirm Wuermelings thesis. The void left by the closure of Chinas cryptocurrency exchanges was quickly filled by other markets, allowing countries such as South Korea to emerge as a major market in the global crypto-economy. South Koreas domestic cryptocurren Continue reading >>

Tax-free For Cryptocurrency Users: Germany

Tax-free For Cryptocurrency Users: Germany

Tax-Free For Cryptocurrency Users: Germany Peter Altmaier Ministry of Finance [Germany] stated out that individuals that complete payments with the use of digital currencies will not be taxed. The news and shared information is very welcoming andwarming coming form Germany in a time when several other countries are taking a much stricter approach towards cryptocurrencies. The internal Revenue Service In the United States do put down the leader Bitcoin and following coins as property for tax purposes in which case any transaction of the digital currencies could be set onsale-of-property status making it subject to capital gains tax. While in Germany, using a cryptocurrencies for purchasing services or goods of any form, the coin which the individual used is considered as a means of paying.The Bunderministerium der Finanzen followed a 2015 European Union Court of Justice ruling on value added taxes. The court ruling sets a precedent for EU nations. They are able to tax bitcoin but providing exemptions for certain type of transaction. Virtual currencies (cryptocurrencies, e.g., Bitcoin) become the equivalent to legal means of payment, insofar as these so-called virtual currencies of those involved in the transaction as an alternative contractual and immediate means of payment have been accepted. An article of the EUs VAT Directive will add to the value of the token for a certain coin when the transfer is completed in the event of an individuals purchasing anything with BTC or any altcoin. In the case when traditional fiat currency is converted to crypto or crypto to fiat, the transaction is names as asupply of services which concludes with the individual [party] taking place as an intermediary for the trading platform [exchange] is not put under tax going and according to Continue reading >>

Bundesbank's Buch Adds To Calls For Cryptocurrency Regulation

Bundesbank's Buch Adds To Calls For Cryptocurrency Regulation

Bundesbank's Buch adds to calls for cryptocurrency regulation BERLIN (Reuters) - Regulation of cryptocurrencies must be considered, Bundesbank vice president Claudia Buch told Reuters, even though she does not believe they pose a threat to financial stability. The German central bank (Bundesbank) vice-president Claudia Buch speaks during a photocall at the Bundesbank headquarters in Frankfurt, May 20, 2014. REUTERS/Ralph Orlowski Buch said that speculation on volatile virtual tokens does not pose a systemic threat because it is not financed through credit, but she said that regulators should look at introducing rules to protect consumers, given that such speculation could prove costly for investors. The role of crypto tokens in money laundering and criminal activity must also be closely examined, Buch said. I dont see a threat for financial stability at the moment as the speculations are generally not financed with loans and the relevant markets are rather small. FILE PHOTO: Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 13, 2018. REUTERS/Dado Ruvic/Illustration/File Photo The issue of how to regulate cryptocurrencies is likely to be high on the agenda at a March 19-20 meeting of Group of 20 finance leaders in Argentina. International Monetary Fund Managing Director Christine Lagarde has urged governments and central banks to develop regulations for such assets to prevent them from becoming a new vehicle for money laundering and terrorist financing. Japan has also urged its G20 partners to act on preventing cryptocurrencies from becoming a vehicle to finance criminal activities. Reporting by Gernot Heller; Writing by Joseph Nasr; Editing by Andrea Shalal and David Goodm Continue reading >>

Germany Wont Tax Cryptocurrencies Used To Make Purchases

Germany Wont Tax Cryptocurrencies Used To Make Purchases

Germany Wont Tax Cryptocurrencies Used To Make Purchases The German Federal Ministry of Finances has decided not to tax cryptocurrencies when used as a means of payment. The German Federal Ministry of Finances considers Bitcoin as tax-exempt so long as it is used as a means of payment , Cointelegraph auf Deutsch reported Thursday , March 1. The German federal authority published its decision to not subject purchases with Bitcoin and other cryptocurrency to taxes on Feb. 27, citing the European Courts 2015 decision, which set a precedent for all members of the European Union. The Court justified its taxing decision by stating that it considers cryptocurrency as a legal means of payment: So-called virtual currencies (cryptocurrencies such as Bitcoin) are considered equal to the legal means of payment, as long as 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 being used as a means of payment. According to the decision, a conversion from crypto to fiat or vice versa is classified as other taxable services. Therefore, a party that is acting as an intermediary for this exchange will not be taxed. Under this provision, operators of crypto exchanges can also get tax exemptions, if they complete the purchase and sale of Bitcoin as an intermediary on their own behalf. The court decision also notes that miner fees will not be taxed, since they are paid on a voluntary basis. These guidelines distinguish Germany from the US where The Internal Revenue Service ( IRS ) treats Bitcoin like property, meaning that each purchase using Bitcoin is technically considered to be a sale of property and is, therefore, subject to capital gains tax. Continue reading >>

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