\u201cThe Supreme Court finds that the received Bitcoins must be considered assets acquired with a view to later turnover as an integrated part of [the first party]\u2019s business with the development and operation of software for Bitcoins,\u201d <\/em>said the ruling. \u201cThey cannot be considered at the time of sale to have been transferred to be [their] private property or assets. On that basis, the Supreme Court finds that the relinquishment of the Bitcoins received constituted revenue in [their] non-commercial business. Sales therefore trigger tax liability.\u201d<\/em><\/p>\n\n\n\n According to Coincub's report <\/a>in September 2022, Denmark's crypto tax rate is around 37%, which is already high compared to other countries. However, high-income earners could face a tax rate of up to 52%, making it one of the highest crypto tax rates in the world. It's worth noting that Denmark is not the only country with a high crypto tax rate. Several other countries, including Sweden, Finland, and Norway, also have high tax rates for cryptocurrency earnings. In contrast, countries like Portugal, Belarus, and Georgia have adopted more friendly tax regimes to attract cryptocurrency investors.<\/p>\n\n\n\n Read More<\/em><\/strong>: Bitcoin Price Targets Under Pressure As CFTC Files A Lawsuit Against Binance<\/a><\/p>\n","post_title":"Denmark's Supreme Court Rules Bitcoin Profit As Taxable","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"denmarks-supreme-court-rules-bitcoin-profit-as-taxable","to_ping":"","pinged":"","post_modified":"2023-04-10 16:51:24","post_modified_gmt":"2023-04-10 06:51:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10697","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The court's decision came after examining the acquisition and sale of BTC between 2011 and 2013 and sales between 2017 and 2018. Both cases result in thousands of dollars in price difference. The court cited the National Tax Act and also took into consideration a 2011 Bitcoin forum post to determine the seller's intention to sell the coins eventually.<\/p>\n\n\n\n \u201cThe Supreme Court finds that the received Bitcoins must be considered assets acquired with a view to later turnover as an integrated part of [the first party]\u2019s business with the development and operation of software for Bitcoins,\u201d <\/em>said the ruling. \u201cThey cannot be considered at the time of sale to have been transferred to be [their] private property or assets. On that basis, the Supreme Court finds that the relinquishment of the Bitcoins received constituted revenue in [their] non-commercial business. Sales therefore trigger tax liability.\u201d<\/em><\/p>\n\n\n\n According to Coincub's report <\/a>in September 2022, Denmark's crypto tax rate is around 37%, which is already high compared to other countries. However, high-income earners could face a tax rate of up to 52%, making it one of the highest crypto tax rates in the world. It's worth noting that Denmark is not the only country with a high crypto tax rate. Several other countries, including Sweden, Finland, and Norway, also have high tax rates for cryptocurrency earnings. In contrast, countries like Portugal, Belarus, and Georgia have adopted more friendly tax regimes to attract cryptocurrency investors.<\/p>\n\n\n\n Read More<\/em><\/strong>: Bitcoin Price Targets Under Pressure As CFTC Files A Lawsuit Against Binance<\/a><\/p>\n","post_title":"Denmark's Supreme Court Rules Bitcoin Profit As Taxable","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"denmarks-supreme-court-rules-bitcoin-profit-as-taxable","to_ping":"","pinged":"","post_modified":"2023-04-10 16:51:24","post_modified_gmt":"2023-04-10 06:51:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10697","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
In the first case, the court ruled <\/a>that a party profiting from selling Bitcoin must report the sale as a taxable event. That Bitcoin was acquired through several purchases and donations, which, adding the purchase was \u201cmade for the purpose of speculation.\u201d In the second case, the court ruled that a user who mined their own BTC and later sold the coins would be subject to the same tax consideration. <\/p>\n\n\n\n The court's decision came after examining the acquisition and sale of BTC between 2011 and 2013 and sales between 2017 and 2018. Both cases result in thousands of dollars in price difference. The court cited the National Tax Act and also took into consideration a 2011 Bitcoin forum post to determine the seller's intention to sell the coins eventually.<\/p>\n\n\n\n \u201cThe Supreme Court finds that the received Bitcoins must be considered assets acquired with a view to later turnover as an integrated part of [the first party]\u2019s business with the development and operation of software for Bitcoins,\u201d <\/em>said the ruling. \u201cThey cannot be considered at the time of sale to have been transferred to be [their] private property or assets. On that basis, the Supreme Court finds that the relinquishment of the Bitcoins received constituted revenue in [their] non-commercial business. Sales therefore trigger tax liability.\u201d<\/em><\/p>\n\n\n\n According to Coincub's report <\/a>in September 2022, Denmark's crypto tax rate is around 37%, which is already high compared to other countries. However, high-income earners could face a tax rate of up to 52%, making it one of the highest crypto tax rates in the world. It's worth noting that Denmark is not the only country with a high crypto tax rate. Several other countries, including Sweden, Finland, and Norway, also have high tax rates for cryptocurrency earnings. In contrast, countries like Portugal, Belarus, and Georgia have adopted more friendly tax regimes to attract cryptocurrency investors.<\/p>\n\n\n\n Read More<\/em><\/strong>: Bitcoin Price Targets Under Pressure As CFTC Files A Lawsuit Against Binance<\/a><\/p>\n","post_title":"Denmark's Supreme Court Rules Bitcoin Profit As Taxable","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"denmarks-supreme-court-rules-bitcoin-profit-as-taxable","to_ping":"","pinged":"","post_modified":"2023-04-10 16:51:24","post_modified_gmt":"2023-04-10 06:51:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10697","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Denmark\u2019s Supreme Court has recently made two landmark rulings that could significantly impact the country's cryptocurrency industry. In two separate cases, the court determined that the sale of Bitcoin under specific conditions constitutes a taxable event. <\/p>\n\n\n\n In the first case, the court ruled <\/a>that a party profiting from selling Bitcoin must report the sale as a taxable event. That Bitcoin was acquired through several purchases and donations, which, adding the purchase was \u201cmade for the purpose of speculation.\u201d In the second case, the court ruled that a user who mined their own BTC and later sold the coins would be subject to the same tax consideration. <\/p>\n\n\n\n The court's decision came after examining the acquisition and sale of BTC between 2011 and 2013 and sales between 2017 and 2018. Both cases result in thousands of dollars in price difference. The court cited the National Tax Act and also took into consideration a 2011 Bitcoin forum post to determine the seller's intention to sell the coins eventually.<\/p>\n\n\n\n \u201cThe Supreme Court finds that the received Bitcoins must be considered assets acquired with a view to later turnover as an integrated part of [the first party]\u2019s business with the development and operation of software for Bitcoins,\u201d <\/em>said the ruling. \u201cThey cannot be considered at the time of sale to have been transferred to be [their] private property or assets. On that basis, the Supreme Court finds that the relinquishment of the Bitcoins received constituted revenue in [their] non-commercial business. Sales therefore trigger tax liability.\u201d<\/em><\/p>\n\n\n\n According to Coincub's report <\/a>in September 2022, Denmark's crypto tax rate is around 37%, which is already high compared to other countries. However, high-income earners could face a tax rate of up to 52%, making it one of the highest crypto tax rates in the world. It's worth noting that Denmark is not the only country with a high crypto tax rate. Several other countries, including Sweden, Finland, and Norway, also have high tax rates for cryptocurrency earnings. In contrast, countries like Portugal, Belarus, and Georgia have adopted more friendly tax regimes to attract cryptocurrency investors.<\/p>\n\n\n\n Read More<\/em><\/strong>: Bitcoin Price Targets Under Pressure As CFTC Files A Lawsuit Against Binance<\/a><\/p>\n","post_title":"Denmark's Supreme Court Rules Bitcoin Profit As Taxable","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"denmarks-supreme-court-rules-bitcoin-profit-as-taxable","to_ping":"","pinged":"","post_modified":"2023-04-10 16:51:24","post_modified_gmt":"2023-04-10 06:51:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10697","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related:<\/strong><\/em> Regulation Hits Generative Artificial Intelligence; Security Concerns And Privacy Cited<\/a><\/p>\n","post_title":"Perplexity AI Launches Chatbot to Take on OpenAI's ChatGPT","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"perplexity-ai-launches-chatbot-to-take-on-openais-chatgpt","to_ping":"","pinged":"","post_modified":"2023-04-14 18:43:12","post_modified_gmt":"2023-04-14 08:43:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10917","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10697,"post_author":"15","post_date":"2023-04-06 12:18:07","post_date_gmt":"2023-04-06 02:18:07","post_content":"\n Denmark\u2019s Supreme Court has recently made two landmark rulings that could significantly impact the country's cryptocurrency industry. In two separate cases, the court determined that the sale of Bitcoin under specific conditions constitutes a taxable event. <\/p>\n\n\n\n In the first case, the court ruled <\/a>that a party profiting from selling Bitcoin must report the sale as a taxable event. That Bitcoin was acquired through several purchases and donations, which, adding the purchase was \u201cmade for the purpose of speculation.\u201d In the second case, the court ruled that a user who mined their own BTC and later sold the coins would be subject to the same tax consideration. <\/p>\n\n\n\n The court's decision came after examining the acquisition and sale of BTC between 2011 and 2013 and sales between 2017 and 2018. Both cases result in thousands of dollars in price difference. The court cited the National Tax Act and also took into consideration a 2011 Bitcoin forum post to determine the seller's intention to sell the coins eventually.<\/p>\n\n\n\n \u201cThe Supreme Court finds that the received Bitcoins must be considered assets acquired with a view to later turnover as an integrated part of [the first party]\u2019s business with the development and operation of software for Bitcoins,\u201d <\/em>said the ruling. \u201cThey cannot be considered at the time of sale to have been transferred to be [their] private property or assets. On that basis, the Supreme Court finds that the relinquishment of the Bitcoins received constituted revenue in [their] non-commercial business. Sales therefore trigger tax liability.\u201d<\/em><\/p>\n\n\n\n According to Coincub's report <\/a>in September 2022, Denmark's crypto tax rate is around 37%, which is already high compared to other countries. However, high-income earners could face a tax rate of up to 52%, making it one of the highest crypto tax rates in the world. It's worth noting that Denmark is not the only country with a high crypto tax rate. Several other countries, including Sweden, Finland, and Norway, also have high tax rates for cryptocurrency earnings. In contrast, countries like Portugal, Belarus, and Georgia have adopted more friendly tax regimes to attract cryptocurrency investors.<\/p>\n\n\n\n Read More<\/em><\/strong>: Bitcoin Price Targets Under Pressure As CFTC Files A Lawsuit Against Binance<\/a><\/p>\n","post_title":"Denmark's Supreme Court Rules Bitcoin Profit As Taxable","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"denmarks-supreme-court-rules-bitcoin-profit-as-taxable","to_ping":"","pinged":"","post_modified":"2023-04-10 16:51:24","post_modified_gmt":"2023-04-10 06:51:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10697","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Although, it was recently announced that various science and technology experts, including Elon Musk and Apple co-founder Steve Wozniak signed a letter that would halt the development of AI more powerful than ChatGPT-4 for 6 months. This was so AI could be \u201cdeveloped only once we are confident that their effects will be positive and their risks will be manageable.\u201d <\/em><\/p>\n\n\n\n See Related:<\/strong><\/em> Regulation Hits Generative Artificial Intelligence; Security Concerns And Privacy Cited<\/a><\/p>\n","post_title":"Perplexity AI Launches Chatbot to Take on OpenAI's ChatGPT","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"perplexity-ai-launches-chatbot-to-take-on-openais-chatgpt","to_ping":"","pinged":"","post_modified":"2023-04-14 18:43:12","post_modified_gmt":"2023-04-14 08:43:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10917","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10697,"post_author":"15","post_date":"2023-04-06 12:18:07","post_date_gmt":"2023-04-06 02:18:07","post_content":"\n Denmark\u2019s Supreme Court has recently made two landmark rulings that could significantly impact the country's cryptocurrency industry. In two separate cases, the court determined that the sale of Bitcoin under specific conditions constitutes a taxable event. <\/p>\n\n\n\n In the first case, the court ruled <\/a>that a party profiting from selling Bitcoin must report the sale as a taxable event. That Bitcoin was acquired through several purchases and donations, which, adding the purchase was \u201cmade for the purpose of speculation.\u201d In the second case, the court ruled that a user who mined their own BTC and later sold the coins would be subject to the same tax consideration. <\/p>\n\n\n\n The court's decision came after examining the acquisition and sale of BTC between 2011 and 2013 and sales between 2017 and 2018. Both cases result in thousands of dollars in price difference. The court cited the National Tax Act and also took into consideration a 2011 Bitcoin forum post to determine the seller's intention to sell the coins eventually.<\/p>\n\n\n\n \u201cThe Supreme Court finds that the received Bitcoins must be considered assets acquired with a view to later turnover as an integrated part of [the first party]\u2019s business with the development and operation of software for Bitcoins,\u201d <\/em>said the ruling. \u201cThey cannot be considered at the time of sale to have been transferred to be [their] private property or assets. On that basis, the Supreme Court finds that the relinquishment of the Bitcoins received constituted revenue in [their] non-commercial business. Sales therefore trigger tax liability.\u201d<\/em><\/p>\n\n\n\n According to Coincub's report <\/a>in September 2022, Denmark's crypto tax rate is around 37%, which is already high compared to other countries. However, high-income earners could face a tax rate of up to 52%, making it one of the highest crypto tax rates in the world. It's worth noting that Denmark is not the only country with a high crypto tax rate. Several other countries, including Sweden, Finland, and Norway, also have high tax rates for cryptocurrency earnings. In contrast, countries like Portugal, Belarus, and Georgia have adopted more friendly tax regimes to attract cryptocurrency investors.<\/p>\n\n\n\n Read More<\/em><\/strong>: Bitcoin Price Targets Under Pressure As CFTC Files A Lawsuit Against Binance<\/a><\/p>\n","post_title":"Denmark's Supreme Court Rules Bitcoin Profit As Taxable","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"denmarks-supreme-court-rules-bitcoin-profit-as-taxable","to_ping":"","pinged":"","post_modified":"2023-04-10 16:51:24","post_modified_gmt":"2023-04-10 06:51:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10697","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Perplexity announced <\/a>they recently raised $25.6 million from the series A funding round last March. This fund will fuel the expansion of its platform from the web to mobile. With this announcement is the launch of the Perplexity AI iPhone app, which will provide \"instant answers, cited sources, voice search, follow-up questions, and thread history\"<\/em>. And you can access Perplexity.ai with no sign-up required granting seamless and on-the-go access.<\/p>\n\n\n\n Although, it was recently announced that various science and technology experts, including Elon Musk and Apple co-founder Steve Wozniak signed a letter that would halt the development of AI more powerful than ChatGPT-4 for 6 months. This was so AI could be \u201cdeveloped only once we are confident that their effects will be positive and their risks will be manageable.\u201d <\/em><\/p>\n\n\n\n See Related:<\/strong><\/em> Regulation Hits Generative Artificial Intelligence; Security Concerns And Privacy Cited<\/a><\/p>\n","post_title":"Perplexity AI Launches Chatbot to Take on OpenAI's ChatGPT","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"perplexity-ai-launches-chatbot-to-take-on-openais-chatgpt","to_ping":"","pinged":"","post_modified":"2023-04-14 18:43:12","post_modified_gmt":"2023-04-14 08:43:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10917","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10697,"post_author":"15","post_date":"2023-04-06 12:18:07","post_date_gmt":"2023-04-06 02:18:07","post_content":"\n Denmark\u2019s Supreme Court has recently made two landmark rulings that could significantly impact the country's cryptocurrency industry. In two separate cases, the court determined that the sale of Bitcoin under specific conditions constitutes a taxable event. <\/p>\n\n\n\n In the first case, the court ruled <\/a>that a party profiting from selling Bitcoin must report the sale as a taxable event. That Bitcoin was acquired through several purchases and donations, which, adding the purchase was \u201cmade for the purpose of speculation.\u201d In the second case, the court ruled that a user who mined their own BTC and later sold the coins would be subject to the same tax consideration. <\/p>\n\n\n\n The court's decision came after examining the acquisition and sale of BTC between 2011 and 2013 and sales between 2017 and 2018. Both cases result in thousands of dollars in price difference. The court cited the National Tax Act and also took into consideration a 2011 Bitcoin forum post to determine the seller's intention to sell the coins eventually.<\/p>\n\n\n\n \u201cThe Supreme Court finds that the received Bitcoins must be considered assets acquired with a view to later turnover as an integrated part of [the first party]\u2019s business with the development and operation of software for Bitcoins,\u201d <\/em>said the ruling. \u201cThey cannot be considered at the time of sale to have been transferred to be [their] private property or assets. On that basis, the Supreme Court finds that the relinquishment of the Bitcoins received constituted revenue in [their] non-commercial business. Sales therefore trigger tax liability.\u201d<\/em><\/p>\n\n\n\n