| > As someone living in the European Union I'd be extremely surprised if bitcoin isn't taxed/regulated to death within 1-2 years here. The EU has no fiscal competence, this is left to the individual states. I don't think much Bitcoin mining is done in the EU? Much of the EU has the most expensive electricity in the world. From a fiscal point of view the taxation of cryptocurrencies depends on each nation. Many have already decided, by law, how to tax Bitcoin and cryptocurrencies. For example in Portugal if I'm not mistaken Bitcoin is considered a currency and gains made on currencies are not taxed. In other countries it's considered capital gains. Etc. None of it is harmonized. The EU simply doesn't have the authority at the moment when it comes to fiscal matters (it's the same for taxes on cars, gold, jewelry, whatever). The EU probably can issue a rule banning mining using proof of work in the EU that'd then have to be translated into national laws: but I don't think that'd change anything. Banning mining in China, however... That one would probably have consequences. |