Americas, Special Report, Entertainment

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The trading and mining of Cryptocurrencies are legal and the government is even formulating regulations to levy capital gains taxes and VAT taxes on its usage. 5. United Kingdom: The UK government is another Cryptocurrency friendly state. Treats them as "Private Money" or currency. United Kingdom: The UK government is another Cryptocurrency friendly state. Treats them as "Private Money" or currency. No VAT is added on them. They are not treated as assets. They have rather, via the HM Treasury, asked for data on digital altcoins so as to decide "Who", "When" and "Where" regulations can be implemented. This clearly shows that the UK is playing a safe game by neither accepting it completely nor deciding against the digital currency. 6. Germany: Since 2013, The Federal Financial Supervisory Authority in Germany has declared cryptocurrencies as legal financial instruments and are considered to fall under the category termed as- Sctimt. The use/trading of Cryptocurrency is subject to capital gains taxes.




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