MOTION FOR A RESOLUTION on controlling virtual currencies such as the ‘bitcoin’
25.11.2015
Sophie Montel, Florian Philippot, Dominique Bilde
B8-1366/2015
Motion for a European Parliament resolution on controlling virtual currencies such as the ‘bitcoin’
The European Parliament,
– having regard to Rule 133 of its Rules of Procedure,
A. whereas the Court of Justice of the European Union stated in its judgment of 22 October 2015 that transactions involving the exchange of the virtual currency ‘bitcoin’ for traditional currencies should be exempted from VAT on the ground that the ‘bitcoin’ is neither a security confering a property right nor a security of a comparable nature;
B. whereas there is a high level of risk in the bitcoin system (mainly related to the anonymity involved) on account of the irreversibility of transactions, whereas it favours the first purchasers unduly (thereby creating gross inequalities) and it has certain similarities with a Ponzi scheme;
C. whereas some countries, such as Russia, have decided to make some transactions involving virtual currencies a criminal offence, owing to the high risk of their being used for illegal purposes;
1. Calls on the Commission to allow Member States to exercise stricter controls over all virtual currency exchange transactions and even to prohibit them;
2. Instructs its President to forward this resolution to the Commission, the Council and the Member States.