The measure comes after six months of discussion within the Federal Ministry of Finance of Germany which chose to establish these first conditions taking into account an account is essentially a whose purpose is to track the financial activities of a specific asset/ the importance of cryptocurrencies and technology. Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. for the future of the country.
El German Federal Ministry of Finance (BMF) the entity responsible for financial and tax aspects in the European country, published the first guide applicable to the payment of income tax on activities associated with the use of cryptocurrencies and digital digital technologies are these electronic tools that have the ability to generate, store or even process data. assets based on Blockchain.
German Government frees sales tax on the sale of BTC y ETH siempre que…
The document in question was issued yesterday, and consists of a total of 24 pages in which it addresses technical explanations and classifications applicable to cryptocurrencies, this according to the considerations set out in the income tax law currently in force in German territory.
One of the most noteworthy aspects contemplated in the corresponding guide is that the sale of cryptocurrencies such as Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. (BTC) o Ethereum a decentralized open-source blockchain with smart contracts functionality. (ETH) are exempt from paying taxes provided that the responsible persons have had the assets in their possession for more than one year. . This was confirmed by the Secretary of State, Katja Hessel, who emphasized this point and added that the regulation would also apply to digital currencies used in protocols. DeFi, pointing out that for this type of assets a possession clause for at least 10 years used to apply.
This and other measures have been quite debated within the agency, given that Article 23 of the corresponding law establishes a similar principle for the trading of assets, so this principle would also apply to cryptocurrencies, whose market an area or arena, online or offline, in which commercial dealings are conducted. has been growing over the years.
The first steps
On this initiative, Hessel notes that this would be the first proposal to address a place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. commercial activities applicable to cryptocurrencies, so these are some considerations applicable to aspects such as cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. mining, cryptocurrency staking, loans of such assets, hard forks and airdrop a marketing campaign that distributes a specific cryptocurrency or token to an audience. campaigns:
“Of course, the publication of this guide is not the end of our engagement with the topic, but an intermediate outcome. The rapid development of the crypto world ensures that we will not run out of topics to discuss.”
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Version by Angel Di Matteo / DiarioBitcoin
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