Does bitcoin count as income in the U.K.? If I mine bitcoin, would it count as income in the UK? If so, would I have to declare the value of my bitcoin on any forms which ask for how much money/income I have?
Yes you would. Bitcoin is a form of property right or asset, just like any other form of wealth. And, income is a positive increase in the sum total of your property rights. You might be able to take deductions in connection with whatever you parted with in order to obtain a bitcoin, depending on the transaction, just as you might be able to take a deduction for inventory expenses associated with income in the form of money.
The order itself is here. It applies to &quot;any United States person&quot;, which includes citizens, LPRs, entities with a US basis, and any other person in the US including tourists. It applies to transactions, and not static possession. There is no exception to the effect that &quot;you can trade as long as it's not on the NYSE&quot;, and it says Any transaction by a United States person or within the United States that evades or avoids, has the purpose of evading or avoiding, causes a violation of, or attempts to violate the prohibitions set forth in this order is prohibited The order is not just directed at brokers, or the NYSE, it applies to everybody / everything everywhere, if you are a US person. Apparently there was some unclarity on the OTC question, which was clarified by the Office of Foreign Assets Control, to the effect that it includes OTC trading.
In the eyes of the IRS, income is income It doesn't matter if that income is in the form of dollars, or gift cards, or red kidney beans, so long as you pay the correct tax on the income the IRS is happy.
The question makes more sense if you ask it in the other direction. Everything that is not currency, pretty much, is like the car. Currency is the pretty much singular exception to this rule, by sheer force of laws designed to facilitate free transferability of currency without friction. Currency is special property because it is defined as such. See also this answer.
Why do you think Oracle have not been protecting their trade mark? Using a trade mark to describe the product (“Written in JavaScript”, “Seeking JavaScript developer”) is not an infringement and the trade mark owner is under no obligation to, indeed, cannot stop this. Where they are required to defend their trade mark is when it is being used in such a way that there is the risk of confusion that the goods or services could be confused with the trade mark owner’s goods or services. Further, they are not required to defend all breaches, only enough to show that they are actively doing so. Also it is not important that the trade mark be associated with the trade mark’s owner. Do you know who owns the trade mark “Ben &amp; Jerry’s”?
Yes It is perfectly legal to physically wash US currency under US law. The kind of &quot;money laundering&quot; that is illegal is obscuring the history of funds, making proceeds of crime appear legitimate, or just making the source of funds hard to trace. That violates 18 USC 1956 and/or 18 USC 1957 There may be other relevant laws as well. This is &quot;washing&quot; money only in a metaphorical sense. See also this US Dept of Justice page
Two people exchanging goods or services on a commercial basis and then pretending it was two gifts is tax evasion. It's not a gift. It's a commercial sale that you lie about by 'putting' a different 'label' on it. Sometimes two people will give mutual gifts, e.g. if you come to my wedding: I give you dinner, you give me some kitchenware. Yet there's nothing commercial about it. So that's not income for either party. However, if you're talking about two businesses making sales to each other, that is very much income, regardless of what you badge it.
Is it actually necessary for businesses (such as a Small Town News USA Inc) that do not reside in EU to care about GDPR? Only if they offer goods/services to or monitor behavior of people in the EU (Art. 3(2)). Note that: having a commerce-oriented website that is accessible to EU residents does not by itself constitute offering goods or services in the EU. Rather, a business must show intent to draw EU customers, for example, by using a local language or currency. If it is then how (and by whom) would compliance be audited and/or enforced? Supervisory Authorities will care of it.