Bitcoin and other crypto currencies are (unlike euro) not a legal currency. Therefore there is no obligation to accept bitcoin as a form of payment. It is merely a question that concerns the seller, whether he wants to accept it as a payment or not.*
Virtual currencies emerged as the most popular financial phenomenon of the recent years by their claim to be an alternative payment instrument and their distributed ledger technology. Virtual currencies are mostly compared to commodity money, field money and e-money in the context of three main functions of money and carry as many similarities as differences. Today, there are hundreds of virtual currencies built on the technology used by Bitcoin, which is the first example of virtual currencies.
As virtual currencies are not regulated by law, they pose many risks expecially for the users. Despite all the risks, by the benefits they provide as compared to other payment instruments, the virtual currencies are prefered more everday. Since the distributed ledger technology and mining, which form their infrastructure, are new concepts in the market; they attracted high attention and have been discussed to be used in financial markets. There are projects regarding the alternative use of distributed ledger technology. Despite this fact, the legal regulation of virtual currencies are still preliminary.**
- In -this- case of owning bitcoin for over a year, the sale of it's free from taxes but registered on.The amount of profit is irrelevant and you're not obligated to mention it in your tax declaration. Exception's: using it as a source of income. In this case the deadline will be extended to ten years. By the way newer delated.
- In case of selling the bitcoin within 12 months after buying it, profits up to 600€ are free from taxes but registered on. More than 600€ will be taxed or defeated. This rule applies not only to bitcoins but for every crypto circulation within a year.***
*https://www.winheller.com/bankrecht-finanzrecht/bitcointrading/bitcoinundsteuer.html
**Betül ÜZER Uzmanlık Yeterlik Tezi Türkiye Cumhuriyet Merkez Bankası Ödeme Sistemleri Genel Müdürlüğü Ankara, Eylül 2017
***https://taxfix.de/steuertipps/bitcoin-und-steuer/
Article Writer : Melike ÇOBAN
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