Friday , October 30 2020

Israel does not consider currency By

© Reuters. The Bitcoin falls again: Israel does not regard it as a currency

By Carlos R. Cózar – He and the rest of the crypto money turns our red again. The cryptocurrency of reference decreases by 5% and stays close to 7,500 dollars, going away from the psychological barrier of 8,000.

If a few days ago, saying that it was like the one that triggered the bubble at the end of 2017, this Thursday has seen Israel, one of the most important financial countries, t It has tied the door.

On Wednesday, the Israeli court ruled in favor of Israel's tax authority on the way that Bitcoin and the rest of cryptocurrency should be understood. By car, virtual currency must be a financial asset and not a currency, as it was intended to start in the country that acted as a partner in that trial.

The judge, therefore, has ordered that the transactions made with the crypto money must pay tax on capital gains.

Copel, the company that was immersed in this judicial process, took advantage of the legal vacuum thanks to a Bitcoin price difference between 2011 and 2013. The start claimed that the cryptocurrency referred in foreign currency and, therefore, its profits should not be tax you

So the company will have to pay $ 830,000 taxes. But beyond this fact, the market has understood that Israel gives Bitcoin a wall.

On the other hand, the US Internal Revenue Service said it was giving priority to issuing guidance on cryptocurgists after politicians at Congress warned that. There is a lot of ambiguity about how the asset should be taxed.

In this context, cryptodivisas fall with power. As we said, the Bitcoin remains in the 7,568 dollars and capitalized 133,990 million dollars. On the other hand, fell by 8%, by 6.43%, by 7% and by EOS 6.28%.

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