United Kingdom Will Dump Tax on Bitcoin Trading
Some good news is coming in the wake of the Mt. Gox hysteria this week. It is being reported that HM Revenue & Customs (HMRC) will be dumping a 20 percent VAT (value-added tax) on bitcoin trades in the United Kingdom, according to the Financial Times. The move comes amidst a slew of complaints from entrepreneurs in the country, who said the tax challenged their competitiveness in the global market. The decision reportedly came from a meeting that took place last week between the tax authority and UK-based traders. At that meeting, it was also said that HMRC would not tax margins. The....
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Different states in the United States of America have different stances against Bitcoin and other digital currencies. While some states like Texas view Bitcoin favorably, there are others like New York which are hell-bent on making things tough for Bitcoin based startups and businesses. Meanwhile across the Atlantic Ocean in the United Kingdom, it is a completely different story. Unlike other countries, the United Kingdom is showing all signs of becoming the global hub for the Bitcoin industry. Starting from the way HM Treasury handled the initial proposals for introducing digital....
A new poll taken by Miningpool.co.uk reveals some interesting information on Bitcoin views and use throughout the United Kingdom. Miningpool.co.uk has spent the last two months polling over 10,000 unique monthly visitors to find out how the British Bitcoin community uses and sees Bitcoin. Bitcoin use still dominated by the usual suspects. The new poll reveals that use of bitcoin is still an issue, with only 6% of those surveyed claiming to be female owners of the digital currency in the United Kingdom. Demographically, almost half of all bitcoin users in the country are between 25-34 years....
Despite being the fifth largest economy in the world, the United Kingdom has a relatively small BTC/GBP trading volume ratio. Banks refusal to deal with Bitcoin companies is at the heart of the problem. BTC/GBP trading pair. At first glance, the BTC/GBP trading pair would seem to be doing very well - it’s the sixth largest trading pair, accounting for 0.21% of Bitcoin’s total trading volume, 2,636.83 BTC or US$1,178,280.73, surpassed only by the BTC/CNY, JPY, USD, EUR, and RUB trading pairs. However, given that, according to a report by CoinDesk, 32.99% of Bitcoin users are based in....
There's a new bitcoin ATM available for the use of residents in Bristol, United Kingdom - not too far outside of London. Operated by Satoshi Point LTD, the bitcoin ATM is installed at the Superfoods healthy fast food establishment, located in Bristol's center on St. Stephens Street. In support of the launch, there was said to have been a large crowd gathering, with food, drinks, and music on-hand to keep attendees happy. The device itself is manufactured by Robocoin of Las Vegas, Nevada, and charges a 5 percent fee over rates from the Bitstamp exchange. This is one of three machines....
Bitcoin price has been stuck trading within a small symmetrical triangle. These continuation patterns tend to suggest another equal sized move down is coming. However, a sweep of lows would “perfect” a buy setup that could initiate a pump and dump fractal from years ago. The pump and dump would be designed to further confuse […]