News From The Crypto Currencies Scene

BTCX Goes to Court With Swedish Tax Government Over Privacy Protection

BTCX Goes to Court With Swedish Tax Government Over Privacy Protection

The Bitcoin is currently winning ways in the online payment world for its new innovative ways in terms of fees, processing time, security as well as micro amounts. The Bitcoin has been intended for this all along, but another key aspect for the founding fathers of the Bitcoin was that the anonymity surrounding it should continue.

With more and more regulations surrounding the Bitcoin, followed by a mainstream pressure, the Bitcoin is no longer as anonymous as many would like it to have. This doesn't mean that everybody has given up on trying to protect the users privacy, far from it.

The Swedish Bitcoin broker BTCX is currently fighting against an audit requested by the Swedish tax government body, Skatteverket. The audit would mean that BTCX would have to disclose private information about their users, something that they do not wish to do and thus has taken Skatteverket to court.

"With the information they have requested the tax agency will see each bitcoin’s history, which includes all the previous owners and transactions, and it also gives the tax agency the opportunity to monitor transactions that will be implemented in the future, by people who may have nothing at all to do with Sweden or Swedish taxes." Joakim Herlin-Ljunglof said to

The case may even be moved to the EU court rooms, due to the case surrounding the Bitcoin, a currency which many countries have yet to regulate. Ljunglof is willing to co-operate with Skatteverket, however not on the terms that they are currently trying to enforce.

"We have no wish at all to be difficult, but, the information now requested from us, concerning thousands of individual customers, is not necessary for the supervision of an individual or for the preservation of evidence against an individual. We believe that it could be illegal to request the data." Ljunglof added.

News by Daniel Allermand
Daniel Allermand - Reporter

Daniel Allermand is a freelance writer, with more than 4 years of experience in the industry as an operator, affiliate and poker player. Daniel has decided it was time to try and bring more coverage about the industry to the general public by writing articles about everything from poker to casino.


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