What is the legal nature of Bitcoin? According to a Dutch Court judgement, bitcoin possesses the characteristics of property rights. Could this be a game changer for the legal status of Bitcoin worldwide? And what does the EU have to say about it?
In this article i explain why we need cryptocurrencies. I present the arguments advocating for and against bitcoin and eventually I examine whether Bitcoin is the new gold or the currency of the feature. I conclude that at best, Bitcoin is currently a store of value. At worst it is just a speculative asset.
On September 8th, a bipartisan bill called the Cryptocurrency Tax Fairness Act has been introduced to the United States Congress. The Bill creates a de minimis threshold of $600 for the purpose of capital gains taxation. Moreover, it poses a requirement on the Treasury Department to issue guidelines for informational reporting on digital currency transactions for which capital gains is due.