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Germany is the first country to make an official decision about the status of the online currency. The nation's Finance Ministry acknowledged Bitcoin as “private money” and a “currency unit,” which means it can be taxed when used commercially, but not so for personal purposes.

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For the past two years, a new kind of digital currency has been gaining in popularity Bitcoin is used to make supposedly anonymous direct transactions between buyers and sellers of goods and services online all over the world, without the oversight of (more).

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