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It sounds more like a psychological achievement than legal. German government has no means to control BTC, that means BTC is still in the wild. This is good fo
by alexro 13y ago
It sounds more like a psychological achievement than legal. German government has no means to control BTC, that means BTC is still in the wild.
This is good for the moment, but also begs a question: when the real regulation comes into play how it will be played?
But for now - relax and enjoy!
- betterunix 13y agoNo means to control Bitcoin? As long as the German government is able to enforce its tax code it can control Bitcoin. Governments have been collecting taxes on things that are much harder to track than Bitcoin for much longer than Bitcoin has existed.
- alexro 13y agoNo way for now, still not clear how they gonna assign monetary value to BTC, what exchange rate they will use?
- betterunix 13y agoWhat exchange rate do they use for forex transactions?
- PeterisP 13y agoCome on - that's not an obstacle. First, it's YOUR duty to report the income and the appropriate local currency value of that income, so picking a rate is your problem, not theirs. And then, if they don't like your choice rate, then they pick a rate themselves, tax you on that, and fine you for misrepresenting your income. Afterwards you (and everyone else) begs them to publish some guidelines on what rate should be used, they do so, and everyone is [mostly] happy.