the The higher regional court of Berlin decided at the end of September 2018 for the benefit of the operator of bitcoin-24.com. In this case, the court of appeal ruled against the BaFin classified Bitcoin as a financial instrument. Lawyer and tax consultant Dr. Joerg Andres interpreted the decision in the BTC-ECHO Podcast.
By Alex Roos
20. November 2018 share Facebook Twitter LinkedIn xing mail
Bitcoin is easy at the vending machine to buy? Incorrect display in Germany. In this country we found for years, no Bitcoin ATM, which comes quickly and easily to the digital Gold. Reason, the BaFin classified Bitcoin as a financial instrument. The operator of a Bitcoin ATM requires a Bank license to operate his business. Since the least is to have such a license and whose acquisition cost-intensive and bureaucratic, the result is the attitude of the BaFin, particularly in a yawning Void when it comes to Bitcoin ATMs. In the near abroad, this is by far not so complicated. In Switzerland, you can buy Bitcoin at the train ticket machines in Austria in the Kiosk. So, the German financial Supervisory authority goes too far here?
The Berlin court of appeal versus BaFin explained
the operator of The Internet platform Bitcoin-24.com was recently spoken by the Berlin court of appeal of a monetary penalty. Important in this judgment is the insight that the BaFin has exceeded its competence as a Supervisory authority. So it would not be in the discretion of the BaFin classified Bitcoin as a financial instrument. As is so often the case the law it is difficult for the “common people”, to follow the swollen language and awkward formulations. Therefore, the lawyer and tax consultant Dr. Joerg Andres explains in this episode how he interprets as a specialist in this field, the judgment of the higher regional court of Berlin.
Dr. Joerg Andres deals professionally with tax legal issues in crypto-currencies. His Knowledge he has written also in the book “tax tsunami Bitcoin”. In today’s episode, he applies his Knowledge in the judgment of the higher regional court of Berlin. We also talk about General tax questions, such as, for example, the taxation of Bitcoin & co. Finally, no clear legislation exists and only a few have expressed the tax authorities to the taxation. However, a statement by the Hamburg tax office has also validity for a citizen of Bavaria?
Dr. Joerg Andres with his book “tax tsunami Bitcoin” (image: Roland Henke, Mach21)
show notes
articles
the impact of the OLG judgment in Berlin
Websites
Official Website of Andre book of law: tax tsunami Bitcoin
Videos
5 errors in the taxation of crypto currencies
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