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Klestin (OP)
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March 31, 2014, 12:56:59 AM |
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The IRS's ruling on virtual currencies specifies that they adhere to the definition of a convertible virtual currency as specified in FINCEN's document FIN-2013-G001. According to that document, part of the definition of a virtual currency is this stipulation: "In particular, virtual currency does not have legal tender status in any jurisdiction." It's clear from context that "any jurisdiction" includes countries other than the US. So, any jurisdiction out there want to step up and bestow legal tender status on Bitcoin so it can be exempted from the new rulings?  |
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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Ibian
Legendary
 Offline
Activity: 2268
Merit: 1278
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April 01, 2014, 01:36:31 AM |
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Bitcoin is whatever The Man says it is, especially when he contradicts himself.
And no way is it gonna stay taxfree, they just have no idea how big this is. It's conditional as it is.
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Look inside yourself, and you will see that you are the bubble.
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LostDutchman
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April 24, 2014, 08:14:31 AM
Last edit: April 24, 2014, 08:32:36 AM by LostDutchman |
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The IRS's ruling on virtual currencies specifies that they adhere to the definition of a convertible virtual currency as specified in FINCEN's document FIN-2013-G001. According to that document, part of the definition of a virtual currency is this stipulation: "In particular, virtual currency does not have legal tender status in any jurisdiction." It's clear from context that "any jurisdiction" includes countries other than the US. So, any jurisdiction out there want to step up and bestow legal tender status on Bitcoin so it can be exempted from the new rulings? Um, do you really think that the IRS or the US government gives the slightest shit what Denmark does? Not picking on Denmark, my Grandmother was a Dane but whatever Denmark does is not going to influence the rulings one little bit. My $.02.  |
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BitCoinDream
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Activity: 2324
Merit: 1204
The revolution will be digital
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April 24, 2014, 08:18:05 AM |
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No country will ever give Bitcoin the status of a legal tender because this is utterly impossible. Only the notes printed in state's own mill can be legal tender by law. But this does not mean Bitcoin is illegal, just because it is not legal tender...
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KyrosKrane
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April 24, 2014, 10:29:47 AM |
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No country will ever give Bitcoin the status of a legal tender because this is utterly impossible. Only the notes printed in state's own mill can be legal tender by law. But this does not mean Bitcoin is illegal, just because it is not legal tender...
Congratulations, you just declared that all coins are not legal tender. You might want to review what "legal tender" actually means... |
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bryant.coleman
Legendary
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Activity: 3654
Merit: 1217
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April 24, 2014, 03:27:49 PM |
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Way to go Denmark! On March 25, Denmark’s Tax Board ruled that gains made from trading bitcoins or other digital currencies will not be taxed, nor will losses be deductible. Danish news source Politiken reported the decision. The Tax Board defines digital currencies as private assets that can’t be considered real money because they don’t exist in physical form. |
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odolvlobo
Legendary
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Activity: 4298
Merit: 3214
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April 24, 2014, 07:08:23 PM |
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Way to go Denmark! On March 25, Denmark’s Tax Board ruled that gains made from trading bitcoins or other digital currencies will not be taxed, nor will losses be deductible. Danish news source Politiken reported the decision. The Tax Board defines digital currencies as private assets that can’t be considered real money because they don’t exist in physical form. Sigh. |
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PGP Fingerprint: 6B6BC26599EC24EF7E29A405EAF050539D0B2925 Signing address: 13GAVJo8YaAuenj6keiEykwxWUZ7jMoSLt
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LostDutchman
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April 25, 2014, 03:57:54 AM |
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Way to go Denmark! On March 25, Denmark’s Tax Board ruled that gains made from trading bitcoins or other digital currencies will not be taxed, nor will losses be deductible. Danish news source Politiken reported the decision. The Tax Board defines digital currencies as private assets that can’t be considered real money because they don’t exist in physical form. Sigh. We here in the USA should be so lucky but it ain't goona happen! The US government has too many wars to fight! My $.02. |
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