In Germany mining of crypto by individuals is taxed as other income under Section 23 of the Income Tax Act. Unlike the euro considered fiat money Bitcoins and other cryptographic currencies are not legal tender.
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Bitcoin Taxation in Germany.
Is bitcoin mining legal in germany. Bitcoins do not satisfy this requirement in the view of BaFin they are therefore neither money e-money legal tender nor foreign exchange or foreign notes and coins. As units of value not denominated for legal. You could however avoid this tax if you held the bitcoin for a year before purchasing the motorcycle et Do I pay taxes on Bitcoin.
BaFin classifies Bitcoins instead as units of account within the meaning of the German Banking Act ie. A legal obligation to accept Bitcoins. Ether IOTA and Co.
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