Bloomberg: the EU court ruled tax-free exchange of bitcoins

Bloomberg: the EU court ruled tax-free exchange of bitcoins

NEW YORK, October 22. The European court of justice on Thursday ruled to release from the taxation the exchange of virtual currency bitcoin, Bloomberg reported.

“Virtual currencies should be treated like traditional money”, – quotes Agency the court’s decision.

About the turnover of bitcoins

Virtual currency bitcoin appeared in 2009 and since then has steadily gained popularity among the Internet users.

Feature of bitcoins is that they cannot be confiscated from the owner.

Recently the situation began to deteriorate due to legislative restrictions that are imposed on its use, a number of countries of the world.

The circulation of virtual currencies not a coincidence is of great concern to the Russian authorities.

In January 2014, the Central Bank and the Prosecutor General’s office warned that virtual money can be used to Finance terrorism and launder the proceeds, and therefore the calculations with cryptocurrencies will be treated as suspicious transactions.


Bitcoin is the most famous cryptocurrency in the world – was launched in January 2009. It is a “virtual money” program online code, which is not regulated by any country or banking Supervisory authority in the world.

One of the features of bitcoin is that it is able to guarantee a complete anonymity of the person or group of people performing with it, buy. Virtual currencies accepted for settlement in more than 60 thousand online stores in the world.

Expert opinion

Author: Konstantin KORISHCHENKO