Online casino operator BitStarz shares its outlook on virtual currencies in Europe.

The bitcoin industry continues to grow across the world as more countries take notice of the digital currency’s benefits. BitStarz believes that in 10 years, bitcoin will be an integral part of the European financial system.

Bitcoin and other virtual currencies can now be exchanged tax free, just like other currencies, according to a ruling by the EU Court of Justice in October. Meaning, cryptocurrencies transactions in 28 countries of the European Union are exempted from value-added tax (VAT) or sales taxes.

While the cryptocurrency is still far from becoming a mainstream payment method in Europe as it needs to go through the comprehensive regulatory framework, the process is already initiated, making Europe as the part of the digital payment revolution and play the forefront of the cryptocurrencies innovation.

Online casino operator BitStarz shares its outlook on virtual currencies in Europe.

The bitcoin industry continues to grow across the world as more countries take notice of the digital currency’s benefits. BitStarz believes that in 10 years, bitcoin will be an integral part of the European financial system.

Bitcoin and other virtual currencies can now be exchanged tax free, just like other currencies, according to a ruling by the EU Court of Justice in October. Meaning, cryptocurrencies transactions in 28 countries of the European Union are exempted from value-added tax (VAT) or sales taxes.

While the cryptocurrency is still far from becoming a mainstream payment method in Europe as it needs to go through the comprehensive regulatory framework, the process is already initiated, making Europe as the part of the digital payment revolution and play the forefront of the cryptocurrencies innovation.