Bitcoin recognised as “unit of account” in Germany
In terms of mobile payments and a ‘cashless society’, the technology has always been there; it’s always been a matter of red tape and implementation which has been the issue.
Now, Germany’s ministry of finance has potentially pushed the divisive Bitcoin technology one step closer by recognising it as a “unit of account”. In other words, it can be used privately, meaning it is a taxable subsidy.
The ruling has come in response to a parliamentary enquiry from the Federal...