Austria Offers 'Contradictory' Guidance on Bitcoin's Financial Status
Two Austrian cabinet ministers have given guidance on bitcoin's status as a financial instrument and tax treatment by answering parliamentary questions submitted by a member of the legislature. Perhaps most notably, the federal minister for finance and vice chancellor, Michael Spindelegger, reiterated that bitcoin is not a financial instrument (that is, a tradable asset), echoing the position of the country's markets regulator, the Financial Market Authority. The finance minister also gave guidance on how capital gains taxes from bitcoin investments would be applied. Individuals who sell....
Related News
As a growing number of governments are looking to tap into crypto profits, authorities in Austria have indicated their intention to tax gains from digital asset investments just like those from stocks and bonds. The move is expected to increase trust and access to cryptocurrencies.
Austria to Apply Capital Gains Tax to Bitcoin, Make Crypto More Accessible
Claiming it aims for an equal treatment of investments in cryptocurrencies like bitcoin, the government in Vienna has announced it’s considering applying the same 27.5% levy to crypto assets it currently uses to tax....
Swiss fintech firm Leonteq has introduced its digital asset products in two neighboring jurisdictions, Germany and Austria. The company is launching its crypto offering with the help of a Frankfurt-based bank and in response to interest from institutional and private investors. Leonteq Provides German and Austrian Investors With Exposure to Major Cryptocurrencies Leonteq is presenting an extensive range of products to investors in Germany and Austria after a successful expansion in its home market, Switzerland. It offers exposure to a total of 18 crypto assets, including bitcoin (BTC),....
It has been three weeks since the Australian tax office postponed offering guidance on how taxpayers Down Under should report Bitcoin earnings. “The group provided valuable feedback on ATO propositions that have been part of our deliberations for an Australian position on this tax treatment. We have sought further advice from external legal counsel, which has delayed the release of the guidance paper. On Tuesday, a little bit of insight emerged as to how this guidance might look. On the Australian Tax Office’s Completed Matters page, a consultation meeting with Bitcoin businesspeople that....
BitTrust, a cryptocurrency startup has opened the first Bitcoin Bank in Austria. The Bitcoin community members in Austria now have a reason to rejoice. The country has recently received its first dedicated Bitcoin bank. The new Bitcoin Bank is a physical Bitcoin exchange center opened with the intention of making it easier for people in and around Vienna to buy and sell Bitcoin. The Bitcoin outlet is operated by Bit Trust, an Austrian blockchain startup. In addition to facilitating personal Bitcoin trade, the Bitcoin Bank also offers a variety of other cryptocurrency and blockchain linked....
Franklin Noll, an academic and monetary historian, has asserted that crypto can be both a security and a currency. Pointing to the history of U.S. money, Noll argues that being both a currency and a security is, in fact, not contradictory.
The ‘Infamous’ Continental Dollar Coins
Franklin Noll, a U.S.-based monetary historian, has asserted that the history of the U.S. dollar over the years shows that being a currency and a security is not contradictory and that crypto can be both.
The assertions by Noll, the president of Noll Historical Consulting, come....