Is bitcoin mining legal

Breaking down everything you need to know about Bitcoin mining, from blockchain and block rewards to Proof-of-Work and mining pools.
Table of contents

When bitcoin is exchanged for sterling or for foreign currencies, such as euro or dollar, no VAT will be due on the value of the bitcoins themselves.


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However, in all instances, VAT will be due in the normal way from suppliers of any goods or services sold in exchange for bitcoin or other similar cryptocurrency. Profits and losses on cryptocurrencies are subject to capital gains tax. They have proposed a code of conduct that includes the provision of Anti-Money Laundering and extra security measures. In December , the governor of the Reserve Bank of Australia RBA indicated in an interview about bitcoin legality stating, "There would be nothing to stop people in this country deciding to transact in some other currency in a shop if they wanted to.

From Wikipedia, the free encyclopedia.

What is Bitcoin Mining?

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Income tax on Bitcoin & its legality in India

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Is Bitcoin legal in India? What is tax rate on Bitcoin profits?

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Bitcoin mining industry

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    How Does Bitcoin Mining Work?

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