Germany Says Bitcoin is a Currency

The German Finance Ministry has accepted that Bitcoin is a “unit of account” and can be used for commercial transactions in the country.

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.

21+ in OH. Please play responsibly. For help, call the Ohio Problem Gambling Helpline at 1-800-589-9966 or 1-800-GAMBLER.

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Jocelyn Wood, Editor Joss is a graduate in English from the University of Birmingham and has a Master’s Degree in Organisational Development from the University of Manchester. His career path has taken him from the British Army, through business & finance to seven years as a successful professional poker player. His experience of the European Union, law, accounting, finance, regulation and online poker provide the basis for his insights in the PRO specialist categories of Industry and Law & Regulation. As CEO he steered his own company through full Financial Services Authority regulation, and was asked by Morgan Stanley to take their UK mortgage business through the same process. Although British, he lives in Arequipa, Peru, set high in the mountains and surrounded by volcanoes. He is married to a Peruvian and has three children.

Article published on August 21, 2013.

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