The general narrative in the media is that the current downward spiral is the bursting of the bubble; however, the fundamentals of the technology have not changed since December. This article explains what a bubble is, why some senior market analysts believe that Bitcoin is a bubble, and why they may be right if Bitcoin does not become widely adopted as a store of value or medium of exchange. Prior to the 20th century, bubbles were few and far between. The Dutch tulip mania in the s, the British South Sea Bubble of the s, and the French Mississippi Company of the s are the most commonly cited examples of early bubbles.
The Tax Law Perspective in Cryptocurrencies
Bitcoin - Wikiwand
One of the first to comment on the declaration of Bitcoin and other cryptocurrencies were the Lucerne tax authorities. The cantons require that cryptocurrencies are listed in the tax return on a separate form i. The reason being that the knowhow about cryptos within those tax authorities is concentrated in the same department dealing with the securities - separately from the rest of the tax return. However, the procedures among the cantons are not aligned. According to the Lucerne newsletter and the Zug guidelines, prove of ownership can be provided by a print-out of the wallet s at year end.
Is Bitcoin A Legal Tender
The legislator has taken the new anti-money laundering requirements from the 5 th Anti-Money Laundering Directive regarding trading platforms for virtual currencies and wallet providers as an opportunity to further regulate crypto tokens beyond anti-money laundering laws. Crypto values have been added to the list of financial instruments in the German Banking Act KWG and crypto custody business has now been included as a financial service. The following rough summary can be provided:.
Various Australian businesses embraced Bitcoin and started accepting to legal tender had no purpose other than to be a means of payment. Being one of the first states in the world to officially recognise Bitcoin as. Genesis Mining. Business InsiderEs gibt eine wachsende Zahl von Unternehmen bitcoin is a legal tender und Personen, die Bitcoin benutzen, darunter Restaurants, Appartements, Rechtsanwaltskanzleien sowie populäre Online-Dienste wie Namecheap, Overstock.