In Munich, is a Bitcoin vending machine. And, although a majority of the Community went so far, that this is not allowed. Time to take a look at the legal Status of crypto-currencies.
Bitcoin Is trading legal? Although the crypto currency and the trade is not illegal per se – a great deal of uncertainty in dealing. It is this uncertainty, it is that many entrepreneurs and service providers slows down. Bitwala was only last week, a Bitcoin ATM in front of the Brandenburg gate, in order to make this uncertainty to the attention of. Out of Order, it was said to the effect – due to the (lack of) legal Status of the Cryptocurrency, it is not possible for the vending machines.
In a similar Horn blew Newfoundland: In an open letter to the Blockchain-a Start-up called on the Federal government to finally bring order to the regulatory crypto-Chaos.
And yet a Bitcoin-vending machine in Munich in a game hall. This is now legal or not?
let us remember: The chamber court of Berlin declared in a judgment that the previous classification of Bitcoin as a unit of account by the BaFin of the right, the authority had exceeded its powers. Thus, the court of appeal also stated that the defendant Bitcoin exchanges-the operator has been wrongly convicted and Bitcoin trading was in his case, it’s legal. However, the judgment has a General validity? Not in the least.
Is Bitcoin trading legal?
The judgment of the superior court of raises, especially in issues of jurisdiction of the authorities. Who is right? And who should decide how crypto-currencies in Germany are legally classified? Benjamin cherry of the law firm of Winheller to BTC-ECHO:
“Here, you have to be careful. The court of appeal has given judgment in a criminal case, in which a strict law is reserved. The BaFin, as the administrative authority is not bound by the judgment, and can and probably will insist further on your view that Bitcoin and similar crypto-currencies account units and thus, for example, Bitcoin ATMs continue to permit are subject to. You can still order the cessation of such activities, and with the means of administrative coercion to enforce.“
The last word is not yet spoken
The last word is not spoken in the Causa Bitcoin ATM. The current judgment of the Berlin chamber court only in Berlin for validity, and only with restrictions. The BaFin does not have to abide by the judgment of the superior court. A parallel instance, to make decisions, would be the cherry to the administrative court:
“Here, you need to contact then, if necessary, before the administrative court to the military. The administrative courts may, however, come to a very different evaluation than the court of appeal. This is also true for all higher regional courts outside of Berlin, in turn, may come to the conclusion that Bitcoin represent units of account and the commercial trade without permission is a criminal Offence.“
Who is now responsible?
Bitcoin ATM and crypto-currencies are moving in a legal limbo. Until Further notice, now remains to be seen how the authorities will comment in the Further:
“clarity in criminal matters can only bring a decision of the Federal court of justice. For the Administrative court the Federal administrative court would be the last instance responsible. The two courts should be of a different view, might even come together for the Common Senate of the Supreme courts of the Federation. Nicer would be of course, if the legislature is active and a legal to adopt a clear position, preferably in consultation with the European partners“,
Benjamin cherry of the law firm of Winheller says.
A regulation at European level would therefore be conceivable. Anyway: to oversleep the next technological Revolution, efforts should be made to the Federal government in each case to a decision.