The European Union.
The European Central Bank recommends that banks not conduct transactions using virtual currencies. Operations with crypto-currencies are not subject to VAT.
Spain.
It is referred to electronic means of payment with reference to the gambling business, there is no other regulation.
Lithuania.
The Central Bank prohibits banks and other financial institutions from working with crypto-currencies.
Sweden.
It is considered a legal tender.
Estonia.
Considered as an alternative means of payment, transactions are not prohibited.
Netherlands.
It is considered as a means of payment, and in the case of its implementation in the form of an independent object - as a commodity. When filling out tax returns, the owners of crypto-currencies must take into account their value in the "Capital" section.
Norway.
It is not considered a monetary instrument, it is considered as a financial asset subject to property tax. In commercial transactions, the use of crypto currency is included in the sales tax.
Poland.
Mining and purchase and sale of crypto currency is considered one of the types of commercial activity and is subject to registration with an authorized body.
Finland.
It is considered a payment instrument, not an asset. Acquisition of goods for bitcoins or converting bitcoin into real currency realizes the value, and any excess of the price is taxed, no tax losses are levied. Bitcoin obtained as a result of mining is considered income.
Switzerland.
It is considered an asset, not a security. Operations do not require the receipt of licenses, but some activities, including the purchase and sale of crypto-currency on a commercial basis and trading platforms, may be licensed.
Germany.
Legislation allows to attribute crypto-currencies to financial instruments, which are a form of "private money", which can be taxed. For retailers accepting bitcoin as payment for goods, both sales operations for the goods themselves and sales of bitcoins taken at the time of purchase are subject to taxation.
USA.
For the purposes of federal taxation are considered as property. The requirements for banking secrecy laws apply to the sale and exchange activities. Operations in the issuance of crypto currency can in some cases be classified as the placement of securities.
Argentina.
It is considered "a digital embodiment of a value that can be used for e-commerce and whose functions are to form an exchange environment and / or a unit of account and / or value storage." Financial institutions working with crypto-currencies are required to notify the authorities of such operations.
Venezuela.
The Central Bank is considering the possibility of issuing its own crypto currency. There are precedents of bringing citizens to account for the implementation of the mining activity.
Ecuador.
Existing crypto-currencies are prohibited. The government intends to create a new state system of electronic money, which will be controlled by the authorities and tied to the local currency. Users will be able to pay for certain services and make transfers between individuals.
China.
It is considered as not a monetary digital asset. Public placement of crypto currency is prohibited. In this case, individuals are allowed to store crypto currency and transactions between individuals.
Singapore.
It is considered as an asset, not as a means of payment. In case of compliance with certain criteria can be classified as a security. Operations with the crypto currency may be subject to VAT. Crypto-exchange exchanges are subject to registration at the currency board of Singapore and are under its control.
Japan.
Recognized as legal tender. It is considered not a monetary asset, but a negotiable asset, which can be used as a means of payment. Operations for the exchange of crypto currency for fiat money are not subject to VAT.
South Korea.
The possibility to revise the current law on electronic financial transactions is being considered in order to create a legal basis for the implementation of crypto-currency transactions. Also, amendments to the laws on incomes and corporate taxation are being discussed that allow fiscal bodies to limit any cases of tax evasion from operations with crypto currency. There are restrictions on the use of crypto-currency to attract financing.
Australia.
The possibility to revise the current law on electronic financial transactions is being considered in order to create a legal basis for the implementation of crypto-currency transactions. Also, amendments to the laws on incomes and corporate taxation are being discussed that will allow fiscal bodies to limit any cases of tax evasion from operations with crypto currency. There are restrictions on the use of crypto-currency to attract financing.
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