Features of European cryptocurrency regulation
Currently, European Central Bank classifies cryptocurrencies (including Bitcoin) as convertible decentralized virtual currencies. When using Bitcoin as a means of payment, transactions to exchange it for fiat currencies should not be subject to value added tax (VAT). Europe crypto regulation has been supplemented by the amendment of the EU Anti-Money Laundering Directive, which aims to reduce the risk of using virtual currency to launder criminal funds. According to these changes, «virtual currency platforms» and crypto-currency service providers [...]Features of European cryptocurrency regulation
Currently, European Central Bank classifies cryptocurrencies (including Bitcoin) as convertible decentralized virtual currencies. When using Bitcoin as a means of payment, transactions to exchange it for fiat currencies should not be subject to value added tax (VAT). Europe crypto regulation has been supplemented by the amendment of the EU Anti-Money Laundering Directive, which aims to reduce the risk of using virtual currency to launder criminal funds. According to these changes, «virtual currency platforms» and crypto-currency service providers are obliged to follow the same requirements for identifying their customers and tracking suspicious transactions as follow other financial organizations, including banks.Wikipedia
