Blockchains are transparent and decentralised way of recording lists of transactions. Their best-known use is for digital currencies such as Bitcoin. The value of Bitcoin increased remarkably since it was launched and ceiling has not been achieved yet. There are many different ways of using blockchains to create new currencies. Hundreds of such currencies have been created in the past and new coming regulary into the market. Continue reading
Britain’s overall position on crypto currencies can be described as liberal and progressive. London is Europe’s biggest financial hub and the government has tried to stay ahead of the curve in terms of regulations and business-friendly policies. Chancellor George Osborne announced a new initiative to explore the potential role of crypto currencies in Britain’s economy and also commissioned a report on the risks and benefits of embracing crypto currencies in August this year: Continue reading
IRS (internal revenue service), the US tax authority, published this year (March 25, 2014) a clear guidance (Notice 2014-21) on how the tax principles apply to transactions involving bitcoins and other crypto currencies. It is not a new law but just an interpretation of how the existing law should be applied to the new technology. It describes how Bitcoin and other crypto currencies transactions should be taxed. Continue reading
I am happy to share with you the attached documentations about Bitcoins either in German or English:
Should you have any questions or need any advice in this regard please feel free to contact me.