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.
Australia has established a pattern of proactive cryptocurrency regulation. Beyond cryptocurrency exchanges, ICOs are also being scrutinized: guidelines from the Australian Securities and Investments Commission (ASIC), issued in 2017, advise that the natural structure of the tokens (security or utility) will determine their legal treatment under general consumer law and the Corporations Act. The island of Bermuda is positioning itself as a “global hub for fintech enterprises and innovation”, with the crypto-friendly regulation in place on the island attracting blo Welcome! Log into your account. your username. your password 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. Individuals who engage in cryptocurrency transactions are advised to keep records of the date of transactions, the amount in Australian dollars (“which can be taken from a reputable online exchange”), what the transaction was for, and who the other party was (“even if it’s just their bitcoin address”).
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