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Archiv für die Kategorie ‘Digital Currencies’
Getting a Voice on the Blockchain: “Delegated Proof of Stake” Interesting for Companies
Blockchain technology, which was originally developed by the anonymous developer Satoshi Nakamoto, is based on the idea of creating a decentralized database that may be used to process value transactions. Contrary to the monetary system provided by the central banks, the […]
How Does Financing a Start-up Through an ICO Work in Germany?
Initial Coin Offerings (ICOs) are presently probably the most hyped way of procuring venture capital not only in Germany but worldwide. ICOs associate elements of crowdfunding with Blockchain technology. By the end of March 2018 alone, this innovative financing mechanism generated […]
Cryptocurrencies: Mining VAT Exempt in Germany
By circular of February 27, 2018, the Federal Ministry of Finance has clarified some open VAT-related questions with respect to the trading and mining of cryptocurrencies. According to the circular, transactions in bitcoin are VAT exempt. Accepting bitcoin as consideration is […]
No Authorization Required for Trading in Cryptocurrencies in Germany
In Germany, the commercial trading in most goods is permissible without any specific authorization. However, anyone intending to provide services relating to securities or other financial instruments needs an authorization from the German financial market supervisory authority BaFin. As a successful […]
Cryptocurrencies: Federal Ministry of Finance confirms VAT exemption
The last few days and weeks have seen a lot of uncertainty among companies trading in cryptocurrencies. According to a media report, the Bonn tax office had refused to grant VAT exemptions for transactions in Bitcoin as they considered Bitcoin to […]
Hard Fork: German Tax Treatment and Date of Acquisition
More often, so-called “hard forks” occur in the cycle of a cryptocurrency. The first cryptocurrency that completed a hard fork was the Ethereum blockchain. In the course of the so-called DAO hack in 2016, Ethereum was split into Ether (ETH) and […]
Regulation of ICOs in Germany and at international level
The common opinion that Initial Coin Offerings (ICO) are a form of raising capital that is subject to no regulations is increasingly facing headwinds from international regulatory authorities. Supervisors in many countries have made it clear through public statements that ICO […]
Cryptocurrencies: How Will Mining be Taxed in Germany?
Cryptocurrencies are not only attractive for investors and speculators. Apart from the purchase and sale of Bitcoin, creating their own cryptocurrency through mining is profitable for many entrepreneurs. In this context, numerous tax and accounting questions occur. Basically, mining cryptocurrencies at […]
Initial Coin Offerings: A New Type of Corporate Financing
Recently, numerous start-ups have raised substantial amounts of money as funding for their business ideas through so-called initial coin offerings (ICOs). Essentially, these companies create their own cryptocurrency and sell its tokens to interested investors. The tokens as such confer no decision-making […]
Four banks develop Blockchain as alternative to central bank
Last year in September, Swiss bank UBS and the American start-up company Clearmatic presented their concept of a “Utility Settlement Coin” (USC) to the world. Now a group of these two companies and the Spanish bank Santander as well as the […]