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 BankToTheFuture.com 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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