Europe’s VAT Landscape Taking Shape as Spain Exempts Bitcoin
The General Directorate of Taxes (DGT) has announced that virtual currencies such as bitcoin will be exempt from value-added tax (VAT) in Spain, following the leads of the United Kingdom and Germany, who recently stated that they are considering taking bitcoin as a complementary currency. In response to the Binding Consultation V1029-15 submitted on the March 27, 2015, the DGT has announced that virtual currencies, which are considered to be a medium of payment, will be classified as financial services rather than simple goods or commodities. Under the “DIRECTIVE 2006/112/EC of November....
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Spain currently hosts 215 crypto ATMs, pushing El Salvador — home to 212 crypto ATMs — down to the fourth position after surpassing the country by 3 crypto ATMs. The European country of Spain is officially home to the third-largest network of Bitcoin (BTC) and cryptocurrency ATMs after the United States and Canada. Spain currently hosts 215 crypto ATMs, pushing El Salvador — wi 212 crypto ATMs — down to the fourth position after surpassing the country by 3 crypto ATMs. Data from CoinATMRadar confirms that Spain represents 0.6% of the global crypto ATM installations.Crypto ATM distribution....
The revised tax policy exempts crypto traders from the mandatory 7% VAT on authorized exchanges while offering tax exemptions of up to 10 years for crypto startup investors. The finance ministry of Thailand has reportedly eased up crypto tax regulations to promote investment in the digital asset market.The changes to the tax regulations come just a few weeks after the government scrapped its early plans of introducing a 15% tax on crypto gains. The new tax policy exempts crypto traders from the 7% value-added tax (VAT) on authorized exchanges, reported Reuters.The revised tax policy would....
The government of Spain has announced it will issue a series of grants and aid for metaverse-related developments. The individuals and companies interested in receiving these grants will have to be based in the European Union or Spain and present a plan, and meet a series of requirements, to be considered. The first batch of grants will be dedicated to the gaming and entertainment sector.
Spain Acknowledges Relevance of the Metaverse
Countries from all over the world are now considering the metaverse and its related technologies as important developmental pillars for the future.....
Rangers F.C, the most successful soccer club in Europe, has announced a partnership with a Turkish crypto and Bitcoin trading platform. The normalization of cryptocurrency advertising took another leap forward this week as Europe’s most successful soccer club announced a partnership with a Turkish Bitcoin (BTC) trading platform.Rangers Football Club, Europe’s most trophy-laden team with 115 competition wins to its name, will partner with Turkish cryptocurrency exchange Bitci Technology. The partnership will run until the end of the 2022–2023 season, and will see the Bitci brand appear on....
The investigation against an alleged major Spanish Ponzi crypto scheme will now be in charge of the National Court of Spain. A judge from the national legal instance is now taking the investigation of Arbistar after the inhibition of a judge in Tenerife. Economic Damages Could Reach Over $120 Million According to El País, judge José Luis Calama agreed to investigate Arbistar 2.0 SL, as victims of the alleged scam are almost 1,127. Still, authorities believe the number could be as high as 32,000. As a worrisome fact for the judge, said El País, the amount of money....