Spanish Treasury Says Bitcoin Gambling Websites Need to Obtain Licensing: Implies Bitcoin Treated as Money
The Spanish Treasury has responded to an inquiry regarding Bitcoin gambling from law firm Abanlex. The lawyers asked for clarification on several key points from the Directorate General for the Regulation of Gambling (DGOJ), which is a government body accountable to the State Secretary of the Treasury. The State Secretary of the Treasury is the governmental authority "which regulates, authorises, supervises, controls and, if necessary, penalises gambling activities in Spanish State." Spanish Bitcoin users have had strong backing by services such as Segundamundo.es and incoming Bitcoin....
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PayPal has recently announced their return to the U. S. online gambling scene, as the company will once again be facilitating deposits and withdrawals by these websites. Is this a move to reclaim the market share they lost to bitcoin exchanges? Recall that PayPal prohibited the use of its online payments platform on U. S. gambling websites back in 2003 when it formed a merger with eBay. Now that the company has split operations with the online retailer, it is ramping up its focus on the payments industry and may be seeking to regain revenues in the online gambling sector. Using Bitcoin in....
The Spanish treasury ministry has announced it will postpone the establishment of the complete framework for declaring taxes related to cryptocurrency assets until 2023. While the Spanish government has advanced when it comes to cryptocurrency regulation, the specifics of what will be taxed and in which way are still a mystery for traders and holders. The organization is still looking for information to control these tax statements effectively.
Spanish Treasury Ministry Will Begin Formulating Crypto Tax Requirements Next Year
The Spanish Treasury has announced it will hold off....
The State Agency for Tax Administration of Spain published guidelines to reduce tax evasion for cryptocurrencies, such as bitcoin. The document is part of the general program of the so-called Annual Tax and Customs Control Plan. Spanish Tax Authorities Could Ask Local Exchanges for Customers Data According to the paper, the Spanish Treasury’s entity seeks to apply three measures, as the crypto markets’ hype generates “tax risks.” That’s why the agency expects to gather information as countermeasures against tax-related crimes. The watchdog is looking with the....
The Spanish Government releases new rulings identifying Bitcoin as an electronic payment system. The governmental clarification came upon an inquiry from Spain-based Bitcoin startup Coinffeine. Back in April, Abanlex, the law firm representing Coinffeine, reached out to the Ministry of Finance and Public Administration (El Ministerio de Hacienda y Administraciones Públicas) as well as Congress, to obtain a clear legal definition of Bitcoin. "The 'big-theme' news here is that Spain is starting to treat bitcoin more like a currency than as an asset, which is the inverse of what the US has....
Popular bitcoin gambling site SatoshiBet has announced that it will now restrict US customers from accessing its platform. In its announcement posted on Reddit, SatoshiBet cited both the uncertain future of online gambling regulation in the US and future legal problems that could result from servicing American customers. The move comes amid a tightening legal environment for companies that offer bitcoin-denominated gaming and gambling. Last month, a move by the Spanish government to deem bitcoin an electronic payment system resulted in bitcoin gambling site operators needing to obtain....