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Topic: Pray: BTC not to be ruled as Legal Tender (Read 815 times)

hero member
Activity: 686
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vini, vedi, no vici.
September 04, 2014, 12:18:28 AM
#1
Australian Tax Commission has recently commented that digital payment system bitcoin could be considered legal tender in Australia.

So how does it matter?

Simple analogy says, "Foreign currency is legal tender of foreign land."

By now, none of country has ruled it as legal tender. Once, its is ruled as legal tender in any country then, all laws of land governing foreign currency comes into effect and regulation/licence requirement etc. It won't be consider 'software/peer-to-peer document/forward contract' or anything else.

Thanks bol kay rulaogaaaayyyyyyyy?  Grin
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