<P> Virtual currencies such as bitcoins currently do not fall within the scope of the Act on Financial Supervision of the Netherlands . </P> <Tr> <Td> United Kingdom </Td> <Td> Legal <P> The government of the United Kingdom has stated that the bitcoin is currently unregulated and is treated as a' foreign currency' for most purposes, including VAT / GST . </P> <P> Bitcoin is treated as' private money' . 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 . 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 . </P> </Td> </Tr> <P> The government of the United Kingdom has stated that the bitcoin is currently unregulated and is treated as a' foreign currency' for most purposes, including VAT / GST . </P> <P> Bitcoin is treated as' private money' . 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 . 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 . </P>

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