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A comment on Germany Sets Standard for Bitcoin Regulation.

Re:Germany Sets Standard for Bitcoin Regulation by Houshalter on Monday August 19, 2013 @01:35PM (#6238458)
That's ridiculous. You shouldn't need millions to just trade bitcoins. Some of those requirements are arbitrary and needless hurdles like being "professionally qualified". And then some are just track people that use bitcoin and what they are doing with it.

Does this apply to all bitcoin companies like it said, or just exchanges?

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Re:Germany Sets Standard for Bitcoin Regulation by PeterisP on Monday August 19, 2013 @01:52PM (#6238561)
What do you mean by "all bitcoin companies" ?

This regulation would apply just as normal financial service regulation - to companies that make bitcoin/money transfers on behalf of others, as a payment service provider (like paypal is regulated); that hold bitcoins on behalf of others (like any deposit-accepting bank is regulated) or those that buy/sell bitcoins from public (like currency exchanges are regulated).

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Re:Germany Sets Standard for Bitcoin Regulation by Houshalter on Monday August 19, 2013 @09:59PM (#6241223)
That's better, but still ridiculous.
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Re:Germany Sets Standard for Bitcoin Regulation by iSnow on Monday August 19, 2013 @01:50PM (#6238545)
To those who exchange BTC for fiat or operate cryptocoin banks or any company in the financial business dealing with BTC.

As a bar owner who accepts BTC for beer, you are fine. However, the German Gov't has already declared they are set out to discuss how to tax companies that accept BTC.

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