The government of Germany recognized the bitcoin equivalent of a Fiat currency

The Ministry of Finance of Germany signed a decree according to which bitcoin is a legitimate payment instrument, equivalent to traditional currencies. On the basis of the published document, the cryptocurrency, as in the United States, considered property, respectively, of purchases made with its help are not taxed on capital outflows. The citizens buying the goods or paying for the service is virtual means, will only pay VAT.

Because digital money is used by participants of a transaction as an alternative to conventional and immediate method of payment, the currencies be similar to traditional payment means, said representatives of the government.

It is known that earlier the Bundesbank has called for stricter control of development of crypto spheres on a global scale. The head of the Bank Wuermeling Joachim (Joachim Wuermeling) is motivated by the «immensity» of cryptocurrencies and the complexity of their regulation at the international level.

Approval of the cryptocurrencies from the world’s major economies is having a very positive effect on their exchange rate. On the part of investors increases the credibility of the cryptocurrency, they begin to actively buy and grows accordingly and the price of virtual money.

The market capitalisation that accompanied the news was relatively small and began in the night of 2 March. The exchange rate of bitcoin exceeded $11,000 and the air is approaching $900. Total market capitalization currently stands at $462 billion.

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