Bitcoin is in an awkward state in Australia. In the beginning, the country seemed to be quite open-minded to the idea of virtual currencies, and let things slide without any intervention. Later on, it was decided that Bitcoin would not only be taxable, but subject to additional taxation on top of the normal rate to boot. If that wasn’t enough, major Australian banks are no longer working with Bitcoin companies either.
Bitcoin ATM’s: Selling Coins Still Cheaper Than Buying BTC
One of the most popular ways of buying and selling Bitcoin in exchange for fiat currency comes in the form of a Bitcoin ATM. Similar to how a bank ATM operates, Bitcoin Teller machines can accept fiat currency bills or hand them out, depending on which type of action the consumer takes. But how is the Bitcoin ATM landscape looking today? Let’s find out!
First Hearing on Australia’s Digital Currency Inquiry To Be Held Tomorrow
Tomorrow could be a very important day for Bitcoin enthusiasts in Australia, and depending on the outcome, the rest of the world as well. The Australian Senate will hold its first hearing in regards to the regulation of digital currencies tomorrow, between 08:30-12:30 in the morning, as part of the Digital Currency Inquiry.
The international community will be represented by Perianne Boring, President of the US Chamber of Digital Commerce. The CDC has been making the headlines over the past few months thanks to their lobbying to educate and promote digital currency issues among US policy makers.
First Hearing on Australia’s Digital Currency Inquiry To Be Held Tomorrow
Tomorrow could be a very important day for Bitcoin enthusiasts in Australia, and depending on the outcome, the rest of the world as well. The Australian Senate will hold its first hearing in regards to the regulation of digital currencies tomorrow, between 08:30-12:30 in the morning, as part of the Digital Currency Inquiry.
The international community will be represented by Perianne Boring, President of the US Chamber of Digital Commerce. The CDC has been making the headlines over the past few months thanks to their lobbying to educate and promote digital currency issues among US policy makers.
Australia Moves Things Ahead In Order To Regulate Bitcoin And Digital Currency
Over the past few weeks, we have several countries taking an interesting stance on Bitcoin and other digital currencies. The Australian Senate’s Economic References Committee has greenlit an inquiry into such digital currencies.
Image courtesy of Itnews
It will take a while to gather all of the evidence to make a case, but we should find out more in the first sitting day, which will take place during March of 2015. The timing for this inquiry is rather interesting though, as it comes on the heels of the long awaited guidelines for cryptocurrency earnings and taxations.