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You can’t loyally loot cryptocurrency in Germany without being charged, according to a recent court ruling. The decision comes at a time when the German government is considering introducing new regulations for cryptocurrencies.
The verdict was issued by a regional court in Hamburg and sets a significant precedent for the German legal system. The case involved a plaintiff who had been using a digital wallet to store their cryptocurrency and lost control of it due to a technical issue with the service provider.
The court ruled that the loss of control over the wallet is not a sufficient reason to consider the assets as abandoned, and therefore, the owner cannot be considered as being without property. The ruling suggests that even if an individual loses access to their cryptocurrency, they are still the rightful owner and can’t be taxed on it.
This decision highlights the need for more comprehensive regulations regarding cryptocurrencies in Germany, particularly in light of the recent surge in popularity of these digital assets.
The German government is expected to introduce new laws governing the use and taxation of cryptocurrencies.
Source: www.bitcoinbazis.hu
