Bitcoin Surges To 3-Month Highs After EU Tax Ruling

As Zerohedge reports, Bitcoin has recovered all the losses from the volatility surrounding China's currency devaluation and Black Monday equity weakness as implicit capital controls drive the Chinese into alternative currencies (as we warned would happen).

However, the last few days have seen the cryptocurrency surge to $280 - the highest in 12 weeks - as The EU's top court ruled bitcoin and other virtual currencies can be exchanged tax-free, putting them on a more equal footing with traditional cash.
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