Denmark Joins the “Not a Currency, Don’t Care” Club
And I was beginning to think that trend of calling Bitcoin not a currency but lacking the willingness to impose regulations was gone after Japan. I guess some just can’t let go of what seems like a good idea. What makes Danish central bank have a negative attitude towards digital coins is the fact that with cryptos it’s not they or any other price it’s the community of people who use it every day. Thus in case of something like latest disaster will befall on the publicly accepted financial system it would be easy for governments to localize the damage and find the scapegoat in the process.....
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The Danish tax ministry is reportedly mulling over revising the country’s tax law to deal with the challenges posed by cryptocurrencies. Denmark’s tax authority is concerned about the rising risk of fraud and widespread filing errors involving cryptocurrencies. Denmark to Revamp Tax Law to Deal With Cryptocurrency Denmark is considering revamping its tax code in order to deal with cryptocurrency after discovering that two-thirds of bitcoin and other cryptocurrency transactions were not properly taxed, Bloomberg reported Tuesday. The country’s existing tax code is not....
Denmark's Financial Supervisory Authority (FSA) today issued an official statement on the use of virtual currency in the country - and surprisingly, it's not all bad news. Although the FSA's statement echoed warnings issued by the European Banking Authority (EBA) and red flags from regulators worldwide, it emphasised that cryptocurrencies, including bitcoin, will not be policed by Denmark's financial regulators. The statement highlights that virtual currency isn't covered by Denmark's existing regulatory framework. Thus, cryptocurrencies cannot be subjected to the country's standard....
While bitcoin enthusiasts in the United States are busy discussing the new IRS guidance on bitcoin taxation, folks in Denmark may just have something of their own to talk (and be happy) about. A report from Denmark's TV2 indicates that the country's tax board has made the determination that taxpayers need not pay for gains incurred upon the buying or selling of digital currency. The report continues, noting that authorities in the country view digital currency as a "private asset" (side note: today's IRS notice classifies digital currency as property). The tax board's decision goes both....
In a possible first for Spanish football, DUX Internacional de Madrid, a lower division team says it has used crypto buy a new player. The player, David Barral moved to his new club after Criptan, the new club sponsor facilitated the acquisition. Criptan is a cryptocurrency trading company that is registered in Valencia, Spain. Meanwhile, following the player’s move, a Spanish football news site quotes Barral, who is now aged 37, expressing his eagerness to continue playing for what will be his seventh club. Barral says: I am happy to join this project, with desire, ambition and....
Coinify APS, a Denmark-based blockchain currency payment provider, is facilitating the first real estate purchase in Denmark using bitcoin. Coinify processed a transaction worth 117 BTC (290,000DKK, $50,000 USD). The Just-Sold group real estate agency signed up for a Coinify merchant account at the buyer’s request to accept the blockchain payment. The purchase was in process at this report, according to Coinify. The buyer of the residential property, who requested to remain anonymous, acquired the bitcoins from bitcoin mining over an extended period. The purchased property is in the town....