Spanish Authorities Clarify How Tax Applies to Bitcoin Losses
The Spanish tax authorities have clarified how the country's existing tax laws should be applied to losses incurred by the collapse of a bitcoin exchange, the result of a scam or a situation of insolvency. Spain's Dirección General de Tributos (DGT) received a question from a bitcoin enthusiast who claimed to have lost a large part of their savings after investing in bitcoin. According to the question, the person deposited their bitcoin in a third party loan service in 2013. At the end of the year, the website's administrator - identified only by nickname and a public key - announced the....
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