The EU's Top Court Ruled that Bitcoin Exchange is Tax-Free
The European Union's Court of Justice ruled that bitcoin exchanges that transfer fiat currencies into bitcoin are exempt from value-added taxes, effectively ruling bitcoin as currency.
This is a positive ruling for bitcoin businesses, as they don't have to worry about additional taxes for facilitating frequent transfer between currencies and bitcoin. The ruling also settled the issue as to whether bitcoin will be treated as a commodity or currency within the European trading zone.
Formation of the Blockchain Alliance
This past week, a number of digital currency companies, organizations, government and law enforcement agencies announced the formation of the Blockchain Alliance to "help combat criminal activity on the Blockchain".
Led by Coin Center and the Chamber of Digital Commerce, the Blockchain Alliance is composed of BitFury, BitFinex, BitGo, Bitnet, Bitstamp, Blockchain, Circle, Coinbase, CoinX, itBit, Kraken, Noble Markets and Xapo. The government agencies involved include the CFTC, the FBI, the DHS, the US Justice Department, the Secret Service, and the US Marshals.
The primary goal of the Blockchain Alliance, as stated by both US Deputy Assistant Attorney General Jason Weinstein and Coin Center executive director Jerry Brito, is to help change the public image of bitcoin as a digital currency for criminals and act as a communication hub among members and the public.
The Blockchain Alliance will provide a forum between industry members and law enforcement so that high level discussions on stopping criminal activity can take place.