UK Digital Currency Association steps to the forefront

Tuesday 25 March 2014 00:38 CET | News

The UK Digital Currency Association (UKDCA) announced its official launch on 24th March 2014, with an incorporated entity, an operational website and established working departments, CoinDesk reports.

The UKDCA has been involved in work consulting with the UK’s tax body, Her Majesty’s Revenue and Customs (HMRC), in what concerns the decision to cancel added costs imposed on Bitcoin trades in March 2014. The decision has been received by the international community as a progressive move by the HMRC.

According to Adam Cleary, UKDCA member and Bullion Bitcoin owner, cited by CoinDesk, one of UKDCA`s goals is to serve as a trade association that offers services both to the domestic Bitcoin community, as well as the wider UK population.

Bitcoin community members can adhere to the public group, free of charge. However, charged memberships will be issued with more substantial perks. The organisation is being run by an interim board. An election will then be held to determine a full board of directors. Interim board members include Cleary, Elliptic CEO Tom Robinson and co-founder Simon Dixon, among others.

Working groups will be focused on exchanges, regulation and accounting, business and financing, media, education and charity, technology and mining.

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Keywords: UK, UKDCA, official launch, Bitcoin, virtual currency, Coindesk, trade association
Categories: Payments & Commerce
Countries: World
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