Australian regulation. What are your questions as to how Bitcoin fits into the Australian regulatory landscape.
I'm gathering a list of questions and concerns about Bitcoin regulation in Australia. There are lots of potential bits of legislation that we may be affected by eg:
Banking Act 1959
AML/CTF Act 2006
Financial Transactions and Reporting Act 1988
Ask me your questions, I wont be able to answer them, but i can compile a list to ask others. Please note, i've deliberately left out anything to do with Taxation as it seems the ATO is going to publish an official position soon.
Bitcoin Regulation in Australia. According to the Australian Taxation Office (ATO), bitcoin and other cryptocurrencies with similar characteristics are considered a form of barter. “Transacting with bitcoins is akin to a barter arrangement, with similar tax consequences. The ATO’s view is that Bitcoin is neither money nor a foreign currency ... 24-06-2013:-Australian Taxation Office (ATO) confirms Bitcoin transactions are subjected to Goods and Service Tax(GST) as well as Income tax. Also told that bitcoin is expected to be a means of electronic payment or money. Blockchain Companies in Australia. Below are some of the better exchanges where users can trust to invest in cryptocurrency. The Australian government is considering the regulation of the local digital currency space by revealing plans to bring bitcoin exchanges under the scope of anti-money laundering (AML) and counter-terrorism financing legislation. Posted in: Archive. Published: May 5, 2017 10:10 AM UTC. Australian Govt Looks to Regulate Bitcoin Exchanges. Author: Samburaj Das. The Australian government is ... According to a study by Scamwatch, an arm of the Australian Competition and Consumer Commission, a total of $21.6 million AU ($14.9 million USD) was stolen from Australians in crypto-related scams in 2019. Other scams include Crypto Cash, Bitcoin Rejoin, Bitcoin Supreme, and Banking on Blockchain. What’s the future of crypto regulation in ... Bitcoin Regulation in Australia. By admin News 0 Comments. Australian experts are gaining ground with modifications to the AML/CTF charge which will incorporate bitcoin exchanges under the extent of Australian enactment out of the blue. The Australian Parliament distributed [PDF] recently refreshed arrangements today, some portion of a more extensive change of the government’s hostile to ...
Fox News - Australia to Ban Bitcoin Gambling - Bitcoin News
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