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The Court of Justice of the European Union has ruled that the services of a Bitcoin exchange in exchanging Bitcoin for a traditional currency is exempt from VAT on the basis of the ‘currency’ exemption (Skatteverket v David Hedqvist Case C-264/14). VAT is imposed across the European Union Member States. To date, there has been no consistency of approach within the EU. In some places Bitcoin is subject to VAT; in others it is exempt.…