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Tag: Bitcoin

IRS demands Bitcoins to be taxed as they are "property" and not currency - 3

IRS demands Bitcoins to be taxed as they are “property” and not currency

The IRS (Internal Revenue Service) officially announced on Tuesday March 25th 2014 that from now on any Bitcoin transaction made should be taxed, if not, taxpayers will be subject to penalty, users must also report any transaction made. While additional taxes are never desirable, an array of useful online tools can be found here. This currently only…

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bitcoin conference 2014

Meet the Bitcoin Island

According to its Treasury Minister, Senator Philip Ozouf a small island in the English Channel called Jersey will become world's first Bitcoin Island. The cryptocurrency was introduced on the island to replace local cash and is mentioned to be used to pay for small things like newspapers, Bus tickets, drinks, etc. but Senator Philip Ozouf…

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