Topics covered include;
- whether bitcoins are recognised as legal tender,
- the possibility of negative impacts on the national currency,
- concerns about fraud, and
- how transactions using the bitcoin system are viewed by tax authorities.
There is widespread concern about the bitcoin system’s possible impact on national currencies, its potential for criminal misuse, and the implications of its use for taxation. Overall, the findings of the report reveal that the debate over how to deal with this new virtual currency is still in its infancy.
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