Top EU Court Rules Bitcoin Transactions Tax-free

The European Union’s highest court said Bitcoin, as well as other virtual currencies, can be exchanged tax-free within the EU. In a Thursday ruling, the EU Court of Justice in Luxembourg said that there was no reason to treat Bitcoin differently than other transactions involving “currency, bank notes and coins used as legal tender.” This is good news for Bitcoin, whose value has plummeted from its highs of more than $1,200 in 2014 to about $200 in January 2015, zigzagging in the $200-$300 price range ever since.

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