Saturday, October 24, 2015

Bitcoin gets a victory in Europe as EU courts rule it is to be treated as money

On Oct. 21, Bitcoin got a strong victory from an European Union (EU) court ruling that termed the crypto-currency as money, and as such should not be taxed as either a commodity or collectible.  This ruling, as opposed to how the U.S. courts have suggested Bitcoin is an investment rather than currency, opens the door for much greater use and acceptance in the Eurozone, and in commerce for countries mired in inflation and sovereign currency issues.
Bitcoin rose in value against most major currencies after the ruling, and has over time stabilized despite attacks from sovereign regulators who have tried to both negate and destroy the currency in the eyes of the public and in retail transactions.


Post a Comment