Bitcoin, Crypto currency, Blockchain

VAT for BTC? XRP, ADA, NEM, XLM, and TRX to the Moon

After the 500€note to be abolished, in order to combat money laundering, and urges Austria’s Central Bank chief a next step: to tax The Bitcoin of the VAT. This is a logical conclusion, and absolutely necessary, as he stated in an Interview with the süddeutsche Zeitung.

Ewald Nowotny is President of the Austrian Central Bank (OeNB). He said in an Interview with the süddeutsche Zeitung on Wednesday:

It can’t be that we have not just decided to print the 500 Euro note, in order to combat money laundering and every small savings Association’s strict rules, moving to slap that and then watch the world awake with Bitcoin the money is washed. There is a need for action.

We need a VAT on Bitcoin, because it is not a currency.

Already in the year 2015, there was an important judgment of the European court of justice, which has clearly decided that the exchange of Bitcoin not subject to VAT.

As Bitcoin is, to some extent, a competition to the prevailing money system, it is this year’s theme at major conferences, such as the G20 summit. In our opinion, it is only a matter of time until there will be further regulations for the crypto market.

Altcoins to the Moon and BTC drastically loses market dominance

The top dog, Bitcoin loses more and more market dominance (measured in terms of market capitalization), so that it is at the time of writing is still almost 32,5%. On 08.12.2017 this was still 65%, which was twice as high as at the present day.

Especially Ripple could claim large shares of the market and the Total market Share of Bitcoin down.

The Ripple rate is the strong support from South Korea, is currently at 3.12 euros. This rate increase of almost 40% within the last 24 hours, however, is not an isolated case in the crypto market.

TRON (100% increase), Cardano (30% increase), Stellar lumen (30% increase) and NEM (45% increase) have also seen strong price increases and reach out to new historical all-time highs. The current Rally seems to be due to the incredibly strong climbs something unhealthy, so it’s probably only a matter of time when a correction will occur.

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