20 Aug '13, 1pm

Bitcoin Regulation Leaps Forward In #Germany -> via @pymnts #bitcoin #payments #regulation

Bitcoin Regulation Leaps Forward In Germany 20 August 2013 Email Share By Pete Rizzo, Editor (@pete_rizzo_ ) The German parliament stopped short of granting bitcoin full currency status on August 19, but recognized bitcoins as "units of account" when it formally issued regulations for the popular virtual currency. The ruling means bitcoin will be legal for use in private transactions, PC World reported . German commercial entities that want to conduct business with bitcoin will first need to obtain permission from the Federal Financial Supervisory Authority. The announcement comes at a time when global governments are looking for direction on how best to regulate bitcoin, and commentators told PYMNTS.com that the development can be seen as a win for both bitcoin users and business owners and investors. Likewise, the ruling is likely to have reverberations in the internatio...

Full article: http://www.pymnts.com/briefing-room/issuers/virtual-curre...

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