Tax treatment of virtual currencies: and Following the request for a preliminary ruling made by the Swedish Supreme Administrative Court in 2015, regarding the proceedings between Mr. Hedqvist and the Swedish Tax authority, the European Court of Justice (ECJ) passed the following judgment: for tax purposes, bitcoin (read: virtual currencies) should be treated as a currency rather than as a commodity; consequently, bitcoin transactions are exempt from VAT according to the current EU laws and regulations.

The article cited AMA's "Global Cryptocurrency and Blockchain Market Study" explored substantial growth in Europe and CAGR of %. According to the report, Growing Demand for Safer International Transactions is one of the primary growth factors for the market. Revolution in Digital Payment Systems Derived from Blockchain Technologies is also expected to contribute significantly to the Cryptocurrency and Blockchain market. Overall, Transaction applications of Cryptocurrency and Blockchain, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The End User, such as Banking, is boosting the Cryptocurrency and Blockchain market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

AMA’s Analyst on the Global Cryptocurrency and Blockchain market identified that the demand is rising in many different parts of the world as "Higher Adoption for Cryptocurrency from the Countries of Asia Pacific Region Such As China, India and Japan".

The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Cryptocurrency and Blockchain market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market

**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2018 currency rates.

Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Cryptocurrency and Blockchain market and other related sub-markets covered in the study.

o Key & emerging players in the market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Have a look at complete Table of Content: https://www.advancemarketanalytics.com/reports/19265-global-cryptocurrency-and-blockchain-market.

Data Triangulation
The overall Cryptocurrency and Blockchain market size is calculated using market estimation process, the Cryptocurrency and Blockchain market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Cryptocurrency and Blockchain market size has been validated using both top-down and bottom-up approaches.