The European Court of Justice rules that exchanging Bitcoin for traditional currencies is exempt from value-added tax (VAT) across all EU member states, classifying it as a currency rather than a commodity or service. The landmark decision in the Hedqvist case meant that buying and selling bitcoin in Europe would not incur the same tax burden as purchasing goods. The ruling was a major win for Bitcoin's legitimacy in Europe and set a precedent that influenced how other jurisdictions approached cryptocurrency taxation.
CJEU: Hedqvist Decision (C-264/14)