On January 14, 2019 the Bavarian regional office for taxes disclosed a note on the treatment of crypto currencies for inheritance and gift tax purposes. The note clarifies that crypto currencies, e.g. Bitcoins” are qualified as financial instruments and therefore need to be designated as financial funds for inheritance and gift tax purposes. The treatment for inheritance and gift tax is therefore similar to the treatment for VAT purposes as disclosed by the German Federal Ministry of Finance in its announcement dated February 27, 2018 and the European Court of Justice dated October 22, 2015.