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Bitcoin Startups

Bitcoin market increasingly professional

The enormous rise in the price of Bitcoins in recent years made more than a few traders wealthy. Increasingly, professional investors, venture capital companies, and business angels turn to investments in alternative currencies. Also, numerous national and international conferences, as well as the establishing of interest groups and interest associations contribute to the urgent necessity of professionalization in the industry.

Numerous Bitcoin start-ups founded

Attorney for Bitcoin Startups in Germany

The widely rising interest in Bitcoins has led to a multitude of start-ups in the area of "cryptographic currencies" – from small  bootstraped (self-financed) startups to start-ups financed by Silicon Valley investors. While some of those business ideas turned out to be less lucrative, there are now numerous Bitcoin start-ups pursuing promising business models: The range extends from the operation of automated teller machines (ATMs), the production of special miners (ASIC miners), to the operation of trading platforms in the form of "black boards" or else as multilateral trading systems (exchanges) up to the operation of mining pools and the offering of online and hardware wallets.

Legal and tax advice important

The regulatory environment for Bitcoin start-ups is difficult to figure out. Depending on the business model, the early application for a BaFin license is imperative, if the founders do not want to risk the closing of their company by the public authorities. In addition, their activities would be punishable and susceptible to payments for damages. Startups, just like any other company are taxable entities. Given the additional financial angle, startups should obtain tax advice to ensure compliance. 

Finally, the contractual bases must be laid already in the founding phase, for example in the form of General Terms and Conditions or other customer contracts. We would be glad to assist you with all of the legal and tax matters surrounding your "crypto-start-up" – be it with the selection of the correct legal form, providing advice and support in the establishment process, clarification of all supervisory and regulatory issues, advising and supporting in the required BaFin licensing procedure, where required, or with all ongoing tax and legal questions arising during daily business operations. We would also be glad to assume financial accounting and tax advisory services for your company.

Legal Advice for your German Bitcoin Startup? Get in touch!

German Bitcoin Startup Attorney

Do you want to invest in Bitcoin companies or establish one of your own? Attorney Benjamin Kirschbaum and Attorney Sebastian Förste will gladly answer any questions revolving around banks, finance and their connection with Bitcoin. You can reach them via e-mail (info@winheller.com) or by phone (+49 (0)69 76 75 77 80).

News

References

1548147609 >

Advising the nonprofit foundation (Germany's first crypto foundation) on its establishment as a hybrid foundation and equipping it with IOTA tokens.

1548147609 >

Advising the nonprofit foundation (Germany's first crypto foundation) on its establishment as a hybrid foundation and equipping it with IOTA tokens.

Contact

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Awards

Juve Award Legal 500 Germany 2019 azur100: Top Employer for Lawyers 2018
Focus Top Law Firm 2018