Topic: BitTeaser: Australia keeps it up with Bitcoin (Read 507 times)

Yes, there are no Australian bitcoin exchanges. The only place I see people accepting bitcoin is this kid busking in the city for bitcoin when ever I go to work. Cute.

But yes, you can use an American exchange or just make a transaction on bitcointalk.

I live in Australia, and I can freely purchase bitcoin. I think you might be a coinbase fanatic, as you choose coinbase over blockchain.info. in that case coinbase does not allow purchasing bitcoin's from Australia. I buy my BTC from localbitcoins, and I'm fine.

What?

According to the article now Australia consider BTC as comodity, so I think it is not illegal to sell it around, specially if you consider that they are thinking about consider BTC as commodity.

Maybe the regulations are too restrictive or the taxes are too high for BTC exchanges or there are too few people that use BTC in Australia that there are no exchanges

Maybe Localbitcoins, as last resource

Very good news. They started to open their doors to bitcoin.
You can see this as start. As here suggested, Australia is flexible country.

This will be a big leg up for bitcoin in Australia if it's recognised as being an accepted payment method. It will most definitely help to drive more innovation as well as adoption.

But as the article states, they are still far from this becoming a reality.

For some reason, in Australia, you cannot buy bitcoins. Why has the government banned it? It has remained a mistery for me and i cannot figure it out. Can someone help me out on this one?

Australia brought some good news to the progressive financial tech world, which operates with crypto currencies. Australian government claimed that they are thinking about bringing status to bitcoin as official payment system.   According to proposed official bill, bitcoin is recommended be considered as an equal payment type, same as regular currencies, that fall under the taxation law for goods and services. This is way different from the situation a year ago, when bitcoin was considered as a commodity, not as currency, what lead to a lot of disappointment from fintech companies, because of huge taxes, that as a consequence could be not so good for economy, because companies were thinking about moving to more “progressive” bitcoin friendly countries. But senator stated that he will change and adjust the crypto situation for good, to create pleasant environment for modern financial technologies.



Senator also concentrated on a statement that trust and confidence from local and foreign entrepreneurs in government will create welcoming environment for opening crypto businesses that will bring even more foreign developers. From all points of view, this is a big progressive positive step from government who listens to its people and businessmen specifically.  The Committee received comments and suggestions from 48 companies, including from Ripple Labs, which cooperates closely with the Commonwealth Bank of Australia. In company’s statement was noted that the lack of common standards regulating the activities of crypto companies creates serious uncertainties for the industry of financial technologies in Australia.
Not only Ripple Labs (https://www.ripplelabs.com/), but the developers of Atlassian (https://www.atlassian.com) and senator himself admits that the creation of a united regulatory basement is the only way to stimulate the development of innovations in the country and create comfortable conditions for the opening of new startups. Nowadays, Australian regulators throw a monkey wrench not into bitcoin, but the whole section that wants and can progress in the country.
Despite the positive initiatives from the authorities, still a lot has to be done before bitcoin would be regulated like any other financial instrument by Australian Securities and Investments Commission (ASIC) http://asic.gov.au/. Australia is trying to follow footsteps of Great Britain toward digital currencies, where Bitcoin is regulated like any other currency, but in the United States it is still treated as a commodity. Hopefully, there will be no problems with government officers, because world definitely needs more examples of flexible and progressive countries, like Australia meant to be. 

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https://www.bitteaser.com/press-releases/?title=australia-keeps-it-up-with-bitcoin

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