Germany Says Bitcoin is a Currency
Key Takeaways
  • German Finance Ministry rules that Bitcoin can be used as a “unit of account.”
  • Taxes and commercial transactions may now be legitimately carried out using the virtual currency.
  • Recent gaming conferences have revealed that bitcoin is a hot topic for both regulators and operators.

The German Finance Ministry has recognized Bitcoin as a “unit of account.” With this recognition comes legitimacy as a currency that can be used for tax and trading in Germany.