Australian Government Portal Publishes Bitcoin Business Guidelines
The Australian government's online business information portal has published a 'Bitcoin for business' page to advise operators of their tax and other regulatory obligations. As well as a basic explanation of what bitcoin is and how it works, the business.gov.au page also features sections on accepting bitcoins, tax implications, risks, and paying employee salaries with digital currency. With headings like "What are digital currencies and crypto-currencies?", "How do I accept Bitcoin in my business?" and "Should I accept Bitcoin payments?" and links to more detailed information, the page is....
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The Australian Government has published a short "bitcoin for businesses" guide on their business website, which aims to educate businesses on the benefits and pitfalls of accepting digital currency like bitcoin in exchange for goods and services. For the enthusiast, the information presented is really quite well known. For a business owner who's been hearing the "bitcoin" word tossed around and wondering what it is, it could prove to be a valuable resource. The guide covers a number of topics, of which include a basic primer on cryptocurrencies, in addition to how a business can accept....
The Australian Tax Office (ATO) today released its long-awaited guidelines on how bitcoin businesses and individual users will be taxed in Australia. The guidelines are similar in nature to those issued by Singapore in January, which received a mixed response from the bitcoin community. In summary, bitcoins will not be regarded as 'money', and will be taxed in a similar way to other non-cash or barter transactions. As in Singapore, this raises the specter of double-taxation for some bitcoin transactions. Likely to be impacted most are businesses who have been transacting in bitcoin and....
While it is certainly true cryptocurrencies pose both advantages and risks, the Australian government wants to revise the AML act to ensure this ecosystem can prosper under the new guidelines. Several days ago, there was an announcement regarding impending changes to the AML Act in Australia, which would create a better ecosystem for cryptocurrency innovation. Several recommendations have been made by the Australian AG, which gives a strong indication as to where this regulation is headed. Revising the Australian AML Act for Cryptocurrency. Some people may argue how Bitcoin wallet services....
The National Superintendency of Crypto Assets (Sunacrip) and the National Electricity Corporation of Venezuela (Corpoelec) signed an agreement to establish guidelines to “improve the development” of bitcoin and other crypto mining activities across the country. Venezuelan Government Bodies Are Expected to Set Guidelines for Granting Crypto Mining Licenses According to the government’s announcement on Dec. 9, the Framework Agreement for Inter-institutional Cooperation will define which electric fees will be required for crypto miners to pay to pursue their activities. But....
The Australian Competition and Consumer Commission has filed a lawsuit against Meta, formerly Facebook, for “publishing scam advertisements featuring prominent Australian public figures.” The regulator said, “The essence of our case is that Meta is responsible for these ads that it publishes on its platform.”
Meta Sued for Publishing Cryptocurrency Scam Ads
The Australian Competition & Consumer Commission (ACCC) announced Friday that it has taken legal action against Meta Platforms Inc. (formerly Facebook) and Meta Platforms Ireland Ltd.
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