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Bitcoins: Currency for criminals?

Posted on 01 October 2013

There have been reports in the Israeli media over the past few days that Israel’s tax authorities are examining the possibility of imposing taxes on profits earned from transactions conducted with bitcoins. At the same time, it has also been reported that banks are limiting the use of this currency.
Since bitcoins are not currently recognized by Israel as legal tender, issues pertaining to this currency are especially complicated. With no supervision over bitcoin transactions and no requirement to report trade in the currency, questions relating to their taxation are in a state of limbo………………………………………..Full Article: Source


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VRS - who has written 36545 posts on Opalesque Commodities Briefing.


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