Germany allowed banks to accept cryptocurrencies
The German Financial Regulator (BaFin) issued an explanation on the removal of any restrictions on the exchange of cryptocurrencies in banks and financial institutions within its jurisdiction. Exchange Bitcoin for the euro can occur both in the bank's cash departments and at ATMs. The reason for the publication of the document was the appeal of the deputies of the German parliament, who found that 6 banks are already engaged in cryptocurrency exchange in Germany.
Previously, the German authorities legalized cryptocurrency, recognizing it as an object for taxation at an average rate of 25% per annum with both income and capital.
It is noteworthy that Bitcoin ATM Radar, which tracks the availability of cryptocurrency exchanger points around the world, Germany along with France are listed as states where the possibility of banking operations with cryptocurrencies is absent.
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Good news, Germany has legalized cryptocurrency by recognizing as an object for taxation at at an average rate of 25% p.a with both income and capital.