GeishaMelodious
Sun Jun 09 2024
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7 answers
1814
Can I use Bybit in Germany?｜While Bybit may not be directly regulated in Germany, . However, it is essential to understand the potential legal implications and risks associated with trading on an unregulated exchange.German traders can still access and use the platform's services
Can you clarify for me, is it permissible to utilize Bybit in Germany? I've heard that Bybit might not be directly subject to German regulations, but I'm concerned about potential legal complexities and hazards that might arise from trading on an unregulated exchange. Despite this, I've also heard that German traders still have the option to access and engage with the platform's offerings. Could you please provide some insight into this matter? Thank you in advance for your assistance.
henry_rose_scientist
Sun Jun 09 2024
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6 answers
909
Is cryptocurrency legalized in Germany?｜. The BaFin crypto regulations and KWG (German Banking Act) state individuals and businesses may buy, sell, and trade cryptocurrencies. However, cryptocurrencies are not recognised as a form of legal tender in Germany.Yes, cryptocurrency is legal in Germany
Is it true that cryptocurrency has been legalized in Germany? I've heard that the BaFin crypto regulations and the German Banking Act, known as the KWG, allow individuals and businesses to engage in the buying, selling, and trading of cryptocurrencies. However, I'm also aware that cryptocurrencies are not officially recognized as a form of legal tender in the country. So, could you clarify the legal status of cryptocurrency in Germany? Is it indeed considered legal?
Carlo
Sun Jun 09 2024
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5 answers
1033
Did Germany ban cryptocurrency?｜Germany is one of those countries that recognize licensed cryptocurrency exchanges and wallet providers as part of the financial services industry, although . The German Banking Act also allows banks to custody crypto.there is no specific crypto use regulation
Could you please elaborate on the status of cryptocurrency in Germany? It's mentioned that Germany recognizes licensed cryptocurrency exchanges and wallet providers, but is there any ban in place regarding the use of cryptocurrencies? And given that the German Banking Act permits banks to custody crypto, does this mean there are no restrictions on the usage of cryptocurrencies within the country? I'm curious to know if there are any specific regulations governing the use of crypto in Germany.
ShintoMystic
Sun Jun 09 2024
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5 answers
1450
Can you create a trust in Germany?｜Although the concept of trusts is not formally recognised in German law, . This company is established to act similarly to a trustee and therefore will not engage in commercial activity.options such as creating a trustee company are available
Could you please elaborate on the possibility of establishing a trust in Germany? It seems that while the legal framework does not formally acknowledge the concept of trusts, there are workarounds such as the establishment of a trustee company that operates analogously. Could you explain how such a company differs from a traditional commercial enterprise and how it functions in lieu of a formal trust structure? Additionally, are there any specific legal requirements or regulations that need to be adhered to when pursuing this alternative route? Thank you for your assistance.
SsamziegangSerenadeMelodyHarmonySoul
Sun Jun 09 2024
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6 answers
1695
What is the tax on crypto in Germany?｜Short-term crypto tax in Germany is subject to regular income tax rates, up to 45% plus the 5.5% Solidarity Tax. Some of the friendlier crypto Germany tax guidance includes: Individually held crypto is not taxed if held for over a year. Individual cumulative crypto profits under €600 are not taxed.
I'm curious to know, what exactly is the tax rate on cryptocurrency in Germany? It seems like the short-term crypto tax is subject to the standard income tax rates, which can go up to 45% plus an additional 5.5% Solidarity Tax. However, there are also some more lenient regulations, aren't there? For instance, if an individual holds crypto for more than a year, is it exempt from taxation? And what about the profits? Is it true that individual cumulative crypto profits below €600 are not taxed? Could you please clarify these points for me?
