The European Court of Justice ruled that Bitcoin is a currency

[sodiao]

Video: one minute to let you know bitcoins, when about 1 minute

Tencent securities FRANCISCO October 23 morning news, according to the "Wall Street Journal" reported on Thursday, the virtual currency Bitcoin (bitcoin) towards becoming a legitimate currency of another step, because the European Court of Justice judgment (Court of Justice) made Bitcoin currency must be as a tax purposes and be treated, rather than being treated as a commodity.

Ruling that charges a fee to the euro or the Swedish krona and other traditional currency is converted to Bitcoin Bitcoin exchanges are exempt from VAT the European Court of Justice, because according to the relevant provisions of the European Union, "to be used as legal tender currency, bank notes and coins, "do not pay VAT.

Europe is the largest trading area Bitcoin, so for this virtual currency, the European Court of Justice ruling that represents a lot of support, eliminating the purchase or use of Bitcoin in Europe may require payment transactions potential threat taxes.

At the same time, the ruling Thursday also learned a debate within Europe, and that is how it should treat this virtual currency. British tax authorities have made clear in previous Bitcoin is a currency position, but Sweden and Germany and other countries have been considered, it should Bitcoin as a commodity to be to be treated, and that means a bit currency conversion We need to accept the sales tax law constraints.

A top lawyer of the European Court of Justice had suggested in July that the court made the above decision, so Thursday's decision was not surprising, but Bitcoins European companies still do this and took a deep breath. Prior to this, these companies have been urged, if we charge VAT for Bitcoin transaction, it will give outside Europe bitcoin business a competitive advantage, because the latter does not face similar threats.

The ruling is "to ensure the future become the first step in a bitcoin alternative of national currencies", vice president of tax compliance company Avalara Richard Asquith (Richard Asquith) he said. (Nebula)

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[Dofus]

That's insane, nobody seems to react or notice the biggest BTC event of the year, they're like commenting other shitnews we see everyday, but this one... Well they don't care xD

[RustyNomad]

That's insane, nobody seems to react or notice the biggest BTC event of the year, they're like commenting other shitnews we see everyday, but this one... Well they don't care xD

Have to agree, this news went by like a 'none event' and its actually BIG news for bitcoin. Bitcoin was placed right up there with other currencies. I do however think that many have taken note and many I think are seriously reconsidering their position towards bitcoin since this news came out.

If only they said that bitcoin was 'legal tender', now that would have been a major game changer as you could then demand to pay in bitcoin as it was legal tender.

[billray1980@gmail.com]

I want to see the Judgment copy which is certify by ICC as well as European Court of Finance then we can be assured that we can initiate in South Asian Countries too. Bit Coin is still virtual wallet currency. is it possible that it will come in physical mode some time ??

[sodiao]

That's insane, nobody seems to react or notice the biggest BTC event of the year, they're like commenting other shitnews we see everyday, but this one... Well they don't care xD

Hope to know that all understand, so BTCC is better and more lasting development prospects!

[OrientA]

That's insane, nobody seems to react or notice the biggest BTC event of the year, they're like commenting other shitnews we see everyday, but this one... Well they don't care xD

The recent price rise is an action to the European Court of Justice's ruling. The price has risen over 60% since the ruling. That news has been reported in many places.

[Spoetnik]

all they did was say it had to be taxed..
this is not new.. that is why no one cares.
for example Canada already had a press release that was similar way before the EU.
your reading into what was said when all it means is you have to pay taxes on your bitcoin earnings.

[Slark]

Greedy bastards from Sweden and Germany and lets call bitcoin a commodity to TAX it even harder. I am sick and tired of stupid bureaucracy of EU politicians.
Do you know that some snails in EU are technically called a 'fish' because it helps French people to avoid taxes for it? (French are using a lot of snails in their cuisine)