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In 2012, J. R. Willett published a whitepaper that described the possibility of building new cryptocurrencies on top of the bitcoin blockchain. [13] [non-primary source needed] Willett went on to help implement this idea in the cryptocurrency Mastercoin, which had an associated Mastercoin Foundation (later renamed the Omni Foundation [14] [non-primary source needed]) to promote the use of this ...
Exchanges may accept credit card payments, wire transfers or other forms of payment in exchange for digital currencies or cryptocurrencies. A cryptocurrency exchange can be a market maker that typically takes the bid–ask spreads as a transaction commission for its service or, as a matching platform, simply charges fees.
Businesses and individuals who buy, sell, store, manage, or mediate the purchase or sale of virtual currencies or provide similar services must comply with the anti-money laundering law. [14]: 33–34 Bitcoin is classified as an intangible asset (not as electronic money) for the purpose of accounting and taxes. [137] [138] Germany: Legal
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