EU wanting to put VAT on Bitcoin

So far, Bitcoin has been taking over the European Union but it has gotten so popular that the EU wants to add stupid taxs so that the governments could have a slice of pie. I found this quite stupid because technically according to everybody, Bitcoin isn’t owned by any country, bank or organization other than the Bitcoin organization or foundation. If the EU wants to go to court for this, I find that they won’t get an easy battle. Since many Bitcoin users in the EU don’t get anything higher than a 1.5% transfer fee but with VAT, they could raise the fee to the sky. After the success of greece’s Bitcoin quest, EU has turned an eye from the Euro to Bitcoin. If the EU manages to actually get VAT integration into Bitcoin, they will be violating bitcoin’s “not controlled by a country” rule. I will be very unhappy so several Bitcoin companies have sent lawyers to protest against the EU’s idea of taxes for every Bitcoin transaction to the government.

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Angus is the Editor-In-Chief and creator of Technology Is Key. He enjoys tech and business and also runs Adventure Bitcoin.

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