[2015-10-24] European Exchanges React to Bitcoin VAT Exemption

[tyz]

Earlier this week, the European Court of Justice decided to exempt bitcoin transactions from Value Added Tax (VAT).

http://www.coindesk.com/european-exchanges-react-to-bitcoin-vat-exemption/

[RustyNomad]

All seems to be happy with the recent developments and understandably so and all agree that it will increase bitcoin adoption.

I think Mr Noizat's remark captured the importance of this ruling best....

Paymium co-founder Pierre Noizat told CoinDesk that while his firm is still looking at the implications of the ruling, the decision is being interpreted as a positive one for the exchange.

"At first, I would say that it is one more step towards clarifying the context of our operations as a Bitcoin exchange and payment solutions provider," he said. "Such clarifications are perceived by businesses and individual citizen as reduction of risks and uncertainties surrounding the adoption of an innovation."

The above is important for bitcoin and I think this ruling will change many people's minds in regards to bitcoin. Many still write off bitcoin as something that will be gone by tomorrow but having such an important institution actually sit down and make rulings about it must mean that there is actually more to this thing called 'bitcoin' than many though and because of this many more might actually take the time to get to understand it.

[bryant.coleman]

I just hope that the New York Department of Financial Services (NYDFS) and Benjamin M. Lawsky will take note of this. Rather than making life miserable for people who trade in Bitcoin, it is better for everyone to legalize and regulate the trade. I just hope that all the Bitcoin-based ventures will move to the EU from the United States.

[LiteCoinGuy]

"Thanks to Mr. Hedqvist, all bitcoin businesses serving EU customers can now breathe a sigh of relief knowing that they are safe from surprises arising from their national or EU VAT regulations," he said.


what is his username here in the forum?

 

[Mickeyb]

I just hope that the New York Department of Financial Services (NYDFS) and Benjamin M. Lawsky will take note of this. Rather than making life miserable for people who trade in Bitcoin, it is better for everyone to legalize and regulate the trade. I just hope that all the Bitcoin-based ventures will move to the EU from the United States.

When you think about it and when you take a look at the recent decisions like the EU decision a few days ago, then an article about China softening it's stance about Bitcoin, I really wonder to did Lawsky and Co have any regrets about the mess they have caused to the Bitcoin in the whole NY state?

I mean these decisions are a real slap in the face to to Lawsky and all of the regulators that have written and introduced the BitLicense.