Europe's top court has ruled that bitcoin should not be taxed in Europe

Europe’s top court has ruled that bitcoin should not be taxed at exchanges, Bloomberg reports.

The ruling comes after a Swedish court referred a case to the European Court of Justice (ECJ).

There had been fears that the court might rule that bitcoin exchanges should have to pay value-added tax (VAT), pushing up the price of bitcoin in Europe.

An advocate general — a kind of legal advisor to the ECJ — had said in a legal opinion that bitcoin should not be taxed. It recommended that Europe “keep payments with bitcoin out of scope of VAT as bitcoin can be considered a ‘pure payment system,'” tax lawyer Roger van de Berg told Business Insider.

This story is developing…

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