What to consider now

Record high: Bitcoin crosses $ 112,000. What legal aspects do investors & companies have to consider now? Overview of crypto regulation, liability, taxes-legal advice in cryptocurrency law.

Bitcoin at all -time high: Legal analysis on opportunities and risks – what investors, companies and users now need to know

The Bitcoin has reached the $ 112,000 mark for the first time and scratches new dimensions with a market capitalization of $ 2.2 trillion. While politics, financial world and investors are discussing new crypto regulation and state bitcoin reserves, it is clear: Bitcoin has arrived in the mainstream. But the legal challenges also grow with the high altitude – for private investors, companies and service providers.

1. Crypto records and the legal situation: no more gray area

With the latest rally, the Bitcoin underlines its “new normality” – also in law. National and international regulators are increasingly targeting Bitcoin and digital assets. Especially as “no more niche” (Bitpanda CEO Eric Demuth) it becomes clear: crypto investments are not legally woven in a experimental field, but closely with regulations of the financial, banking and tax law.

Important development in the USA:
A regulatory package for cryptocurrencies is currently being discussed in the US Senate, which has a noticeable effect on the international markets and the acceptance of Bitcoin. The announcements of the US government to introduce less regulatory pressure and even state bitcoin reserves also have a signal effect-legally and economically.

2. Legal framework for Bitcoin in Germany and the EU

a) crypto values ​​as financial instruments

Bitcoin & Co. have been officially classified as financial instruments since 2020 according to § 1 Paragraph 11 Clause 1 No. 10 Credit Act (KWG). This applies to many providers of wallet services, stock exchanges and intermediaries, in particular permission obligations according to the KWG and the new cryptom market supervisory law (KMAG).

Example: Anyone who manages for third parties or offers financial services in principle needs a BaFin license. Illegal offer- also from abroad- can have civil and criminal consequences.

b) tax law obligations

According to § 23 EStG, speculative gains with cryptocurrencies are considered to be other income for private investors (holding time IDR 1 year). Companies are subject to separate documentation as part of the accounting obligation; Tax reports are expected according to the evaluation law (BewG) and the GoBD.

c) money laundering law and identification obligations

With the increase in crypto prices, the control of all transfers: KYC (“Know your Customer”), suspected money laundering (§ 43 GWG), as well as the transparency register obligations are increasing. Anonymous transactions and so -called privacy coins are increasingly under pressure.

3. Legal risks and need for action in the Bitcoin all-time high

a) Careful examination of providers and products

In view of the boom, dubious platforms and fraudulent offers are created in parallel (see frequent BaFin warnings). Check in particular:

• Is the provider listed in the Bafin database? Click here for the database
• Is there a permit according to KWG/KMAG?
• Are there resignation, return and security mechanisms for investors?
  Attention: Participations in non-regulated or “false” Bitcoin products cover considerable risks-up to Complete de -enrichment and criminal responsibility.

b) Liability issues and asset protection

The price rally attracts crime and hacker attacks. Without careful legal design (e.g. custody, notarial security, legal succession, corporate structure), owners risk the complete loss. In the case of wallet losses, “scams” or bankruptcies of platforms, there are complicated liability processes.

c) Obligations and scope for action for companies

Companies that operate operative Bitcoin business-such as payments, treasury or investment purposes-need clear corporate governance structures.

Regulatory reporting and documentation obligations, compliance requirements and separation of private and business assets are indispensable.

4. Micar: The new EU crypto regulation-what does it mean for Bitcoin, companies and investors?

With Micar (Markets in Crypto-Assets Regulation, Regulation (EU) 2023/1114), a uniform, EU-wide legal framework for crypto values ​​and providers of digital assets are created for the first time. The regulations come into force from 2024/25 and also affect Bitcoin investors and service providers in Germany.

What regulates Micar – and what does it change?

• Uniform obligation to admit: If you want to be active as a trading platform, storage or mediator for cryptocurrencies such as Bitcoin in the EU (“Crypto Asset Service Provider” – CASP), a official license is mandatory. In Germany, this task takes over Bafin. This is intended to largely replace “gray markets” and untried providers from the market.
• Strict investor and consumer protection standards: Micar prescribes comprehensive information, educational and brochure obligations for issuers and service providers. Central risks, structure and functionality of every crypto assets offered must be made transparent. This gives investors comparable and legally secure standards for the first time in the acquisition of digital assets.
• Rules against market abuse: market manipulation, insider trade and unfair business practices are punished for the first time according to clear requirements-similar to the classic securities area.
• Clarity in advertising and communication: Micar obliges all providers to be truthful, non -misleading advertising and transparent communication about opportunities and risks – a real progress for investors and companies.
• Special feature Bitcoin: For “classic” cryptocurrencies such as Bitcoin, parts of the micar only apply to a limited extent (e.g. no prospectus obligation). Nevertheless, service providers (e.g. stock exchanges and storage) have to meet almost all regulatory requirements. However, the Micar requirements apply in full for all new tokens and stable coins.

Conclusion: Micar creates uniform and reliable standards in the medium term – and makes the European cryptom market for customers: inside and serious providers much more secure.

5. What to do in the event of problems – and why legal accompaniment is decisive

Whether suspicion of fraud, loss from scam, compliance issues or uncertainties for tax or regulatory risks-professional legal advice is now more important than ever.

Typical occasions for the consultation of a lawyer in cryptor law:

• Impending or ongoing investigations by law enforcement authorities (e.g. due to money laundering, tax evasion, market manipulation)
• Suspected crypto scam, wallet fraud or hacker attacks
• Processing of discounts and executions with Bitcoin stock
• Examination of contracts related to crypto startups or tokenized assets
• Defense against unauthorized claims according to suspected “violations of the rule”

6. Conclusion: Bitcoin remains – but legal preparation is essential!

The current high flight makes it clear: Bitcoin has come to stay. But the more important cryptocurrencies, the more important are legally safe structures, tax compliance and effective protection against crime -related risks. Anyone who acts now protects themselves from losses and regulatory pitfalls.

Do you have any questions about Bitcoin, legal requirements, liability or are fraud or investigations affected?

Now contact me for an individual initial assessment. Register now-via anwalt.de, by email [email protected]by phone or directly via mine Law loan.

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