Let’s talk about the crypto regulations in EU.
As the start, any idea about the tax regulations? Any idea about the exchange regulations?
What are the regulation bodies in Europe? As far as I know, there are three relevant authorities?
- European Union
- European Convention on Human Rights
I think it is way complicated than that. Specially when it comes to the federal model.
For example German Federal Financial Supervisory Authority (BaFin) is the responsible for the cryptocurrency regulation but in other hand each Bundesland( state) also has its local regulation.
Since crypto currencies count as substitute currency does not require a license and every businesses can accept crypto currencies without any licensing in Germany wich makes it somehow the Heaven of crypto currencies but in other hand if you are entitled to tax payments in Germany ( steuerpflichtig) you have to pay a heavy tax( sometimes up to 48 percent) on your income.
Also if you dedicate your financial activity to crypto currencies like mining pool or exchange you definitely need a BaFin license which I believe it is not very easy to obtain!
Also it becomes more complicated when a business does not accept the cryptos Directly but through a gateway or a provider which is not located in Germany and has no BaFin license!
If you want to start any kind of Crypto activities inn Germany i strongly recommend to talk with a lawyer( Anwalt) and a tax adviser ( Steuerberater und Wirtschaftsprüfer) .
I would say there is definitely an open field in Germany, but you have to educate your self first. And by saying educate yourself I do really mean it.
Any experience about the other members of EU?
Do you have pointers to those requirements in Germany, which could help others quite a lot?
I think this link helps a lot
Interested to learn more about the topic in France and UK - Do you have more sources ?
Just launched a company around Blockchain (called Blockchain Collective) and would need more info for my users! Thanks