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Meho Krljic:

--- Quote from: Meho Krljic on 21-07-2015, 10:22:36 ---Whoa.

Bitcoin ‘Should Be Exempted from VAT’ Says European Court of Justice Official

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A sada:
 EU rules Bitcoin is a currency, exchanges are VAT-exempt

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The European Union’s Court of Justice (ECJ) has today ruled that Bitcoin is a currency, detailing exchanges that transfer traditional currencies into the crypto-coins for a fee are to be exempt from consumption taxes.
Under the EU rule against value added taxes (VAT) on transfers of “currency, bank notes and coins used as legal tender,” the new call presents an important boost for Bitcoin, erasing related costs for buying and using the virtual funds in Europe – one of the world’s leading trading zones.
Today’s decision concludes a long-standing discord in Europe over how best to regulate Bitcoin. The UK’s tax authorities took the position that it is a currency, while other countries, including Sweden and Germany, believe that Bitcoin is a commodity and transfers should therefore be subject to sales taxes. Poland levied a 23% VAT on all exchanges – maintaining that Bitcoin is an exchangeable product, not a currency.
The current case came forward in response to a request from Bitcoin enthusiast David Hedqvist, who had approached Swedish tax authorities for a decision on whether or not that the exchange of bitcoins into Swedish Krona, and vice versa, would be exempt from VAT.
Although the court ruling is no surprise – following a recommendation from ECJ’s top legal advisors in July – it is welcome news for the European Bitcoin industry which argued that taxes would hand over a competitive advantage to organisations outside of the region.
According to Richard Asquith, VP at tax compliance firm Avalara, the EU call is “the first step in securing Bitcoin’s future as a genuine alternative to national currencies.” However, others are disappointed with the ruling. Jens Bader, chief commercial officer at Secure Trading argued that the distinction should lie in the fact that “Bitcoin exchanges […] are not regulated and licensed financial services. While we call it a ‘currency’, in fact Bitcoin is a tradable commodity, like gold and silver.”

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Bitcoin is Exempt from VAT, Rules European Court of Justice

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Bitcoin transactions will be exempt from Value Added Tax (VAT), the European Court of Justice (ECJ) has ruled.
According to the Financial Times, the ECJ said that bitcoin transactions "are exempt from VAT under the provision concerning transactions relating to currency, bank notes and coins used as legal tender."
The ECJ's long-awaited ruling comes after its Advocate General Juliane Kokott urged the court to refrain from applying tax to bitcoin purchases and sales, in an opinion document published in July.
The European court first looked into bitcoin taxation in June last year after the Skatterverket – Sweden’s tax office – challenged a court decision that ruled bitcoin transactions in the country should be exempt from VAT, following a dispute with bitcoin forum operator Daniel Hedqvist.

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Jeste tradeable, ali nije commodity, jer jedino što možeš sa bitcoinom je da trguješ. Ne možeš da ga upotrebiš na neki drugi način, kao što bi mogao sa srebrom i zlatom. Ostaje problem sa manjkom regulacije, ali to se rešava uvođenjem iste, a ne pogrešnim klasifikovanjem.

Meho Krljic:
VISA gets in on di ekšn.   Introducing the Shift Card

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Today, we’re excited to introduce the first US-issued bitcoin debit card, the Shift Card. The Shift Card is a VISA debit card that currently allows Coinbase users in twenty-four states in the U.S. to spend bitcoin online and offline at over 38 million merchants worldwide.
Merchant adoption has come a long way over the past few years, but it’s still difficult for people to make regular purchases with bitcoin. Buying gas at a local gas station or groceries at a neighborhood grocery store with bitcoin has not been possible in most cities in the U.S. Thanks to Shift Payments, it’s now possible to use bitcoin to buy gas, groceries, and much more. With the Shift Card, you can now spend bitcoin anywhere in the world that VISA is accepted.

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Meho Krljic:

Meho Krljic:
Amid Bitcoin Centralization Worries, Core Developers Start New Currency Called Decred

--- Quote --- Some of Bitcoin's developers have left the project and are now starting their separate digital currency called Decred, promoting an open governance model, which they say is missing in Bitcoin.
Few people have an idea of how Bitcoin works, and even fewer know who the men and companies behind the cryptocurrency are, and who takes the decisions.
According to a press release put out by Company 0 LLC, formed by former Bitcoin developers, there are a few external entities that fund the actual development of the Bitcoin cryptocurrency, forming a power-group that is in sole command of the direction the currency takes.
 A conflict of interest in Bitcoin's decision-making structure These developers say that the group limits outside input in the currency's governance, cherry-picks only options favorable to their own interests, and generally ignores the developers' and community's best interests.
"The Bitcoin software is controlled by a small group of people who decide exclusively what can and cannot be changed," Jacob Yocom-Piatt, CEO at Company 0, says.
"This is in part due to a lack of mechanisms and pathways for funding development work directly from the community, and, as a result, Bitcoin development is funded by external entities that create conflicts of interest between the developers and the representative power of the community that uses Bitcoin," he also notes.
 A new currency is created, with an open governance model In an effort to address this issue, many of Bitcoin's developers have teamed up with the people behind the btcsuite project and are now creating their own new cryptocurrency called Decred.
This new cryptocurrency will be funded and managed by newly formed Company 0 LLC, but will also adopt a more decentralized community-based governance model.
The former Bitcoin developers recognize the success of their former project, and they aim to bring all the good parts of the Bitcoin project into their new Decred initiative, but they also want to fix what they're seeing as a problematic management structure.
More details are available on Decred's website.
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