In a landmark decision, the European Court of Justice held that bitcoin virtual currency transactions are VAT exempt as they are treated like real currency.ย
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Bitcoin and its potential usage as part of money laundering crimes as well as of crimes associated with terrorism has been the subject of concerns raised by the UIF, the harm of the Bank of Italy dedicated, among others, to receive anti-money laundering reports of suspicious transactions. ย But the reaction from other Governments and e-commerce operators are different.
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Issues affecting Bitcoin and gaming are becoming a very frequent topic of discussion since a number of gaming websites decided to allow Bitcoin transactions. ย Even relevant gambling regulators decided to take actions to protect both operators and players in case of Bitcoin transactions to set a friendly environment where such virtual currency can be used. ย However, the usage of Bitcoin leads to potential gaming law issues as well as non-gaming related issues.
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The news about the indictment of Charlie Shrem, the former vice president of Bitcoin Foundation, and Robert Faiella in the US because of their potential involvement in the laundering of more than $ 1 million bitcoin on the website Silk Road to purchase illegal drugs raised new concerns about the legality of Bitcoin currency.