[2015-08-04] Australia considering to regulate Bitcoin as currency

[tyz]

In a recent development, Australian senate’s Economics References Committee made a report and reviewed the digital currencies in Australia. Their finding is that all cryptocurrencies should be treated as currency for the purposes of Goods and Services Tax (GST) rather than intangible asset – the stance which Australian Taxation Office (ATO) maintained previously.

https://99bitcoins.com/australia-considering-to-regulate-bitcoin-as-currency/

[LiteCoinGuy]

http://www.coindesk.com/australian-senate-committee-seeks-to-overturn-bitcoin-tax-ruling/


they know that they would lose alot of the BTC business if they dont change their laws - pretty amazing what Bitcoin is doing...

[cr1776]

Competition is a great thing. Particularly between governments. This is a perfect examples.

[okae]

good news in general, maybe this is just the begining and some others countrys start to think about it too?

what do you think?, im pretty sure this will happend soon or later but if this finally goes real then we can start to talk about a BIG step is done.

[Damiantroll]

good news in general, maybe this is just the begining and some others countrys start to think about it too?

what do you think?, im pretty sure this will happend soon or later but if this finally goes real then we can start to talk about a BIG step is done.

As long as Australia's bitcoin regulation actually works. One of the defining characteristics of Bitcoin is its unregulated nature, or at least unregulated by people. I think that bitcoin may be hampered by these regulations.