Germany is taking a lead within European Union established economies, deciding upon slow regulation when it comes to the world’s most popular cryptocurrency, bitcoin. It will not tax the digital asset as a form of payment, miner rewards escape the sting as well, and even some exchanges will receive exemptions.
Bundesministerium der Finanzen, Germany’s Federal Ministry of Finance, issued a four page document outlining its tax regime regarding bitcoin, VAT treatment of Bitcoin and other so-called virtual currencies. Using a 2015 decision from the European Union Court of Justice on value added tax (VAT), the broader EU believes it can decide the fate of taxing bitcoin. Germany too is using it as a framework.
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