CONFIDENCE IN YEM
THE AUTHORITY FRIENDLY DIGITAL CURRENCY The YEM (Your Everyday Money) was conceived in 2017 with the aim of creating an international digital currency that combines all the available strengths of blockchain technology without adopting the weaknesses of other cryptocurrencies: REQUIREMENTS FOR DIGITAL CURRENCIES "Back in 2014, the European Banking Authority (EBA) issued a detailed 46-page study on the risks and opportunities of digital currencies (EBA/Op/2014/08), which explained 70 risks in detail." The YEM was designed to eliminate or at least minimize these risks. DIGITAL CURRENCIES AS A FORM OF PAYMENT In February 2018, the German Federal Ministry of Finance (BMF) provided a circular letter (III C3 - S 7160-b/13/10001) to all tax authorities regarding the treatment of virtual currencies as a form of payment. The BMF clarifies: "Virtual currencies (...) are treated as equivalent to legal tender insofar as these so-called virtual currencies have been accepte