#Digital Currency
“Innovation will flourish” in the digital currency sector as anti-laundering laws pass
The passage of anti-money laundering legislation through Parliament on Thursday will facilitate further growth in Australia’s local blockchain and digital currency industry, according to local fintech leaders. The Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2017 will extend anti-money laundering and counter-terrorism financing regulation to digital currency exchanges. The legislation requires these exchanges to monitor […]
Speculative demand driving up prices of digital currency but use as a payment remains limited
The use of digital currency for payments “remains relatively limited” while cash will continue to play an important role in society despite it’s declining use, the Reserve Bank of Australia told the House of Representatives Standing Committee on Tax and Revenue. In a statement delivered to the Committee, in relations to its inquiry into Taxpayer Engagement […]
Removal of double tax on cryptocurrencies said to support Australia’s own Silicon Valley
Legislation to remove double taxation on digital currencies, such as Bitcoin, has been passed by Australian Parliament, with fintech industry leaders describing the news as a win for consumers and businesses. The Treasury Laws Amendment (2017 Measures No. 6) Bill 2017 was tabled in Parliament, last month, by Treasurer Scott Morrison. He said the reform, which will […]
CoinJar tackles fluctuating Bitcoin prices
Australia’s largest Bitcoin company has introduced Hedged Accounts, giving users of Bitcoin the ability to peg the price of the digital currency against the fiat currency of their choice.
Australia’s first bitcoin debit card
Australian startup CoinJar have unveiled the country’s first bitcoin EFTPOS card, which allows the digital currency to be be converted to Australian dollars and spent in virtually any retail outlet that offers debit card transactions.
Bitcoin in the sights of regulators
Bitcoin is making news again. Angry investors in the virtual currency are joining a class action to recover nearly US$500 million “lost” when Mt. Gox, a Tokyo-based Bitcoin exchange, crashed at the end of February 2014.