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Bitcoin News

A roundup of the top Bitcoin news from August 19 to August 25:

Tuesday, August 20

• Chatrooms, Meet Bitcoin – CoinChat Pays You to Chat Online

Wednesday, August 21

• Germany Ministry of Finance Declares Bitcoin is Private Money

Thursday, August 22

• Canadian Startup CoinTap Sells Bitcoin Gift Cards to Help Adoption

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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.

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