Bitcoins are tax-free, at least in Europe.

The European Court of Justice (ECJ) has declared the exchange of bitcoin and other digital currencies should be treated like traditional money, and thus exempted from value-added tax (VAT).

In its Thursday ruling, the top court declared cryptocurrency transactions, such as buying and selling bitcoin, are similar in nature to those of other “currency, bank notes and coins used as legal tender.”

According to the European Union law, transactions relating to currency, bank notes and coins used as legal tender across the 28 nations are exempt from VAT.