Author

Topic: OK, Denmark, time to step up. (Read 1279 times)

sr. member
Activity: 476
Merit: 250
April 24, 2014, 10:57:54 PM
#8
Way to go Denmark!

Quote
On March 25, Denmark’s Tax Board ruled that gains made from trading bitcoins or other digital currencies will not be taxed, nor will losses be deductible. Danish news source Politiken reported the decision. The Tax Board defines digital currencies as private assets that can’t be considered real money because they don’t exist in physical form.

Sigh.

We here in the USA should be so lucky but it ain't goona happen!

The US government has too many wars to fight!

My $.02.

Wink
legendary
Activity: 4466
Merit: 3391
April 24, 2014, 02:08:23 PM
#7
Way to go Denmark!

Quote
On March 25, Denmark’s Tax Board ruled that gains made from trading bitcoins or other digital currencies will not be taxed, nor will losses be deductible. Danish news source Politiken reported the decision. The Tax Board defines digital currencies as private assets that can’t be considered real money because they don’t exist in physical form.

Sigh.
legendary
Activity: 3766
Merit: 1217
April 24, 2014, 10:27:49 AM
#6
Way to go Denmark!

Quote
On March 25, Denmark’s Tax Board ruled that gains made from trading bitcoins or other digital currencies will not be taxed, nor will losses be deductible. Danish news source Politiken reported the decision. The Tax Board defines digital currencies as private assets that can’t be considered real money because they don’t exist in physical form.
sr. member
Activity: 295
Merit: 250
April 24, 2014, 05:29:47 AM
#5
No country will ever give Bitcoin the status of a legal tender because this is utterly impossible. Only the notes printed in state's own mill can be legal tender by law. But this does not mean Bitcoin is illegal, just because it is not legal tender...
Congratulations, you just declared that all coins are not legal tender.

You might want to review what "legal tender" actually means...
legendary
Activity: 2394
Merit: 1216
The revolution will be digital
April 24, 2014, 03:18:05 AM
#4
No country will ever give Bitcoin the status of a legal tender because this is utterly impossible. Only the notes printed in state's own mill can be legal tender by law. But this does not mean Bitcoin is illegal, just because it is not legal tender...
sr. member
Activity: 476
Merit: 250
April 24, 2014, 03:14:31 AM
#3
The IRS's ruling on virtual currencies specifies that they adhere to the definition of a convertible virtual currency as specified in FINCEN's document FIN-2013-G001.

According to that document, part of the definition of a virtual currency is this stipulation:

"In particular, virtual currency does not have legal tender status in any jurisdiction."  

It's clear from context that "any jurisdiction" includes countries other than the US. So, any jurisdiction out there want to step up and bestow legal tender status on Bitcoin so it can be exempted from the new rulings?

 Grin

Um, do you really think that the IRS or the US government gives the slightest shit what Denmark does?

Not picking on Denmark, my Grandmother was a Dane but whatever Denmark does is not going to influence the rulings one little bit.

My $.02.

Wink
legendary
Activity: 2268
Merit: 1278
March 31, 2014, 08:36:31 PM
#2
Bitcoin is whatever The Man says it is, especially when he contradicts himself.

And no way is it gonna stay taxfree, they just have no idea how big this is. It's conditional as it is.
hero member
Activity: 493
Merit: 500
March 30, 2014, 07:56:59 PM
#1
The IRS's ruling on virtual currencies specifies that they adhere to the definition of a convertible virtual currency as specified in FINCEN's document FIN-2013-G001.

According to that document, part of the definition of a virtual currency is this stipulation:

"In particular, virtual currency does not have legal tender status in any jurisdiction."  

It's clear from context that "any jurisdiction" includes countries other than the US. So, any jurisdiction out there want to step up and bestow legal tender status on Bitcoin so it can be exempted from the new rulings?

 Grin
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