Germany is an economic powerhouse. It is the country that leads the future of EU at least when the economy is consideration. In such a scenario it is correct to surmise that any initiative taken by Germany will be followed up eventually by EU. Germany has recently announced that they are recognizing Bitcoin as a Legal Tender. This is big news, biggest in recent times when it comes to legitimization of cryptocurrency.
- Germany made Bitcoin a Legal Tender.
Germany’s finance ministry has brought Bitcoin a step closer to legalize by proclaiming it as a unit of account, allowing it to be used as the legal currency for tax and trading purposes. Parliament member Frank Schaeffler said that identifying the virtual currency under the country’s banking rules symbolizes an initial step towards deregulating the production of money and hopes that the government doesn’t hamper with its success.
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