Tag Archives: Germany
Top Bitcoin News Last Week: CoinChat, Germany, CoinTap, more
Bitcoin News
A roundup of the top Bitcoin news from August 19 to August 25:
Tuesday, August 20
Wednesday, August 21
Thursday, August 22
Germany Ministry of Finance Declares Bitcoin is Private Money
Germany Declares Bitcoin is Private Money
It seems that every government is starting to weigh in on Bitcoin. First, the Bank of Thailand advised local companies that Bitcoin is illegal. Then, a federal judge in Texas wrote that Bitcoin is money in a ruling about a Bitcoin ponzi scheme.
Now, Germany has ruled that Bitcoins are private money.
“The German Ministry of Finance does not classify bitcoins as e-money or as a functional currency; they cannot be regarded as a foreign currency. Nevertheless they have to be subsumed under the German term of ‘Rechnungseinheit’ as a financial instrument,” Martin Chaudhuri from the Ministry of Finance told CoinDesk. Rechnungseinheit translates to unit of account in English.
Via MarketWatch.
