Belgian government aims to combat bitcoin money laundering

Crime | January 29, 2016 By:

The Belgian government is setting plans in motion to target money laundering actions in Bitcoin. The tax authorities have started investigating fraud cases involving bitcoin.

“More and more ordinary shops including restaurants, retailers and even car salesmen accept bitcoin. In October last year the European Court of Justice ruled also that no VAT is payable on bitcoin transactions. This was made ​​clear that bitcoin is accepted here,” said spokesman of the Ministry of Finance Francis Adyns.

In early 2015, the Belgian government seized a total of 1,100 BTC as a result of an investigation. Even though the digital currency is not recognized as an official currency, it is hard to decide what they should do with the funds.

The Library of Congress states that there are no specific laws or regulations regarding Bitcoin in Belgium. In July 2013, the Belgian Finance Minister, in response to a question by a Belgian senator, said that while the Bitcoin system appears to be “somewhat problematic” as a potential tool for money laundering and other illegal activities, such problems should not be overstated.