Following are the major Bitcoin news of the day
Swedish Bitcoin Exchange Accuses Tax Authorities of Privacy Violations
BTC-X, a Sweden-based Bitcoin exchange, is reportedly being forced by the tax authorities to disclose the financial information of its 20,000 customers. The tax agency wants to know the full history of transactions undertaken by their users to keep track of each financial transactions carried out in the exchange. According to the BTC-X, the authorities requested information without emphasizing on a specific individual or suspect. They were therefore crossing the boundaries of law, a reason why BTC-X has decided to sue the tax agency for violating the privacy rights of individuals. You can read the full report here.
BitPay Joins Libra Tax to Ease Merchants’ Bitcoin Tax Reporting
Bitcoin payment processing company BitPay recently announced to promote Libra Tax among its merchants. The decision came in the light of upcoming IRS taxation period that will require Bitcoin based businesses to submit their tax returns. BitPay CEO Bryan Kohn called it a daunting task for businesses and therefore suggested merchants to use Bitcoin taxations tools designed by Libra. You can read the full report here.
Anycoin Direct Spreads its Services to 14 More European Nations
Bitcoin broker Anycoin Direct recently signed a deal with Eastern European payment service provider TrustPay, following which it can now buy and sell Bitcoin in 14 more countries from the region. The partnership has also made Anycpin’s service available throughout Europe. You can read the full report here.