Bitcoin regulation: "Legislators must create legal foundations"

The law firm WINHELLER from Frankfurt a. M. is a proven expert when there are legal and tax questions about bitcoin. For example, lawyer Lutz Auffenberg was the only invited lawyer at Inside Bitcoins Berlin (IBB) to discuss the regulation of bitcoins.

Bitcoins are still on the rise. It is no longer possible to pay with the digital currency in the Internet alone. In the US, for example, a bill is being discussed which states that in the state of Utah taxes can soon be paid by bitcoin. Also the cooperation of Bitcoin, the leading German Bitcoin market place. de (Bitcoin Deutschland AG) and Munich's Fidor-Bank show that Bitcoin is increasingly moving into the modern business and financial world.

Lawyer Lutz Auffenberg:

"It is a good thing for regulators to deal with the issue of virtual currencies. It is necessary to examine whether regulation is possible in the interest of consumer protection, the fight against money laundering and the security of the financial market in accordance with applicable law. Nonetheless, it will be the task of the legislature to create the legal basis for appropriate and appropriate regulation of virtual currencies. Blockchain technology is a novel phenomenon, which is not yet covered by law. The consequence is that the regulatory authorities are currently trying to ensure the supervision of bitcoin-related business models through a broad interpretation of the existing law. The objectives are honest, but the basic decision as to whether and how regulation of virtual currencies is necessary must remain with the legislator according to the principle of division of power. "

[wysija_form id = "2"]

BTC echo