Swedish Bitcoin Exchange BTC-X takes Tax Authorities to Court
The Swedish Bitcoin exchange BTC-X is being forced by the Tax Authorities to disclose all of their customer's financial information. Tax Authorities have demanded the full customer transaction history, which will allow them to track every financial move, from the small Swedish bitcoin exchange BTC-X customers. This latest move made by the Swedish Tax Authority is an evident case of Privacy violation as we have never seen before. It looks like the government is seeking to take away the undeniable people's right to privacy. To make matters even more uncomfortable, this demand was made....
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A Swedish bitcoin brokerage has gone to court with the country's tax authority to prevent an audit of its customer information. Goobit AB, the company that operates the Stockholm-based BTCX, is fighting a third-party audit request from the Skatteverket, the Swedish tax agency, that would require it to disclose information about its customer base. As reported last week by Swedish language newspaper Dagens Nyheter, BTCX has gone to court in order to prevent this information from being handed over. Goobit chief marketing officer Joakim Herlin-Ljunglöf voiced concern that Swedish authorities....
Professing that the Bitcoin is a form of money, the Advocate General of the European Court of Justice (ECJ), Juliane Kokott, said that the digital currency should be exempt from Value Added Tax (VAT). The proposal came in response to the Swedish tax office's request to defog the tax status of Bitcoin in Europe, and end all the legal uncertainties that surrounds it in the current regulatory climate. At that time, the Swedish authority had challenged a court decision that had excused Bitcoin transactions from Bitcoin operations from falling under the VAT's purview. The EU's highest court,....
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