What’s in this book: Seeking to ascertain whether virtual currency requires additional regulation or whether the law as it'stands is adequate to administer its usage, the analysis not only thoroughly explains the nature of the underlying blockchain technology and its regulatory and judicial treatment so far but also identifies best practices for virtual currency transactions and makes recommendations for the improvement of the existing tax systems. Among the aspects of the phenomenon covered are the following: The book has three parts and an annex that describes tax regulations, administrative rulings and court decisions concerning virtual currency in twenty countries. The book examines tax consequences of using convertible decentralised virtual currency schemes (such as Bitcoin or Ethereum) since such currency represents the vast majority of all virtual currency types. How this will help you: In its detailed overview of recent tax developments that affect virtual currency transactions and evaluation of tax policies related to virtual currencies, this book has no peers. Especially in view of the Organisation for Economic Co-operation and Development’s (OECD) examination of the tax challenges presented by the digital economy as part of its base erosion and profit'shifting (BEPS) project, this clear and comprehensive explanation of the functioning of virtual currency and blockchain technology will be welcomed by tax administration officials and by persons mining and transacting in virtual currencies needing to know their tax compliance obligations.