The authorities decided to determine the legal status of Bitcoin in Ukraine

The authorities decided to determine the legal status of Bitcoin in Ukraine
Financial regulators in Ukraine have decided to work out a common position on the legal status of Bitcoin in Ukraine and its regulation. Reported edition Left Bank.

"In order to develop a common position on the legal status of Bitcoin and its regulation, the National Bank began a dialogue with the Ministry of Finance, the State Fiscal Service, the State Financial Monitoring Service, the National Securities and Stock Market Commission, and the National Commission for State Regulation in the Markets With the participation of these government agencies, this issue will be considered at the next meeting of the Financial Stability Board, which is scheduled to be held by the end of August, "said lyayutsya at the National Bank.
Bitcoin currently has no legal status in Ukraine. The NBU notes that there are different approaches to managing Bitcoin transactions in the world.
Bincoin is officially authorized in a number of countries. Usually they are considered as a commodity or an investment asset and for taxation purposes they are subject to the relevant legislation. In some countries, Bitcoin recognizes the settlement currency.
For example, EU legislation today categorizes Bitcoin as a "digital representation of value not confirmed by a central bank or government body and is not tied to legally established exchange rates, which can be used as a means of exchange for the purchase of goods and services, transfer and storage, and can be acquired In electronic form ". In this case, the exchange of traditional currencies per unit Bitcoin is exempted from paying value added tax.
In Israel, Bitcoin does not fall under the legal definition of currency either as a financial security or as a taxable asset. Each time Bitcoin is sold, the seller must pay a capital gains tax.
The People's Bank of China considers Bitcoin to be a virtual commodity, and not a currency, and its sale may be subject to VAT.
In Japan Bitcoin is recognized as asset-like value. His sales are taxed by a Japanese analogue of VAT.
In Australia Bitcoin is considered as a property, and transactions with it - as a barter.
In Canada, Bitcoin is generally defined as an intangible asset, and transactions with it are also barter.
"Thus, in different countries, Bitcoin classifies differently - like virtual currency, money surrogate, intangible value, virtual goods, etc. For its part, the National Bank of Ukraine does not officially support any of the above definitions," - summed up the NBU.
Recall, Bitcoin is a virtual digital currency, which can be paid on the Internet. Her "coins" can be produced by anyone using an Internet-accessible software code. Mining, or "owning" Bitcoin with computer-based computing, and the chances of success are higher, the higher the computing power of the computer. Therefore, the operators create special "farms" of computer equipment.
Bitcoins are not secured, their value is arbitrary.