JULY 17 DIGEST: Top EU Court Adviser Says Bitcoin Should be Exempt From VAT and Factom Launches First Release Candidate

The legal adviser to the EU's highest court said that digital currencies like Bitcoin should be exempt from value-added tax, the Factom Foundation has launched a first release candidate, and more top stories for July 17.

Top EU Court Adviser: Bitcoin Should be Exempt From VAT

In a case that could set a rule across the European Union, the legal adviser to the EU's highest court said that digital currencies like Bitcoin should be exempt from value-added tax (VAT). The European Court of Justice, set up to make sure EU law is applied equally across member states, is still considering a request from Sweden for guidance on the tax status of Bitcoin. While the advice is not binding, the court does often follow the advice of its legal adviser.

Factom Team Launches First Release Candidate

Having crowdfunded US$1 million on Bank to the Future, Factom Inc.'s sister organization the Factom Foundation has launched a first release candidate, Release Candidate One (RC1). This is a critical step for launching the Factom network, a data layer for the Bitcoin blockchain. The company now calls on developers and interested participants to combine their efforts to help test and debug the beta client in advance of making it available to the broader community.

Core Developer Jeff Garzik Proposes 2MB Block Size Limit Compromise

With a new Bitcoin Improvement Proposal, BIP102, Bitco