And the news that Australia will charge tax on crypto means the ripple protocol will be illegal in at least 1 country.
That may have already been priced in since people already knew that was happening.
https://www.cryptocoinsnews.com/bitcoin-not-currency-says-australian-tax-office/
Ooops
That's why we send them down there ... not very smart those Ozzies. Quite good at sport tho ... I guess it's all that time spent not reading books
Quote
The role of the GST or the Goods and Services Tax will now come into sharp focus. Under this law, the use of bitcoin will apply twice to some Bitcoin transactions, both to the goods and or services being supplied, and to the use of bitcoins as a method of payment. Bitcoin exchanges and markets will have to charge GST on the full value of the bitcoins they supply to residents of Australia, and not just on commissions
Ooops
That's why we send them down there ... not very smart those Ozzies. Quite good at sport tho ... I guess it's all that time spent not reading books
I assume it applies to all crypto, in which case Ripple will be illegal in Australia.
Yes, but Ripple Labs is trying to do something about this.
Please see the thread below.
https://bitcointalksearch.org/topic/ripple-i-dont-think-rl-would-be-talking-to-a-government-if-they-were-scammers-880666
