UK Treasury Committee MP: Bitcoin Doesn't Need New Laws
Last month, the United Kingdom parliament debated an arcane topic that hasn't been raised in the legislative chamber in 170 years: money creation. The last time the subject was discussed in the House of Commons was when the Bank Charter Act of 1844 was passed. That historic act put an end to British commercial banks' ability to issue banknotes, transferring those powers exclusively to the Bank of England. The member of parliament who revived the topic in the House was Steve Baker, who was recently elected to a seat on the Treasury Select Committee. The committee is responsible for....
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With the with theestablishment of the Digital Finance Institute in the UK, and the relocation of high profile cryptocurrency companies already hitting headlines last month, it now seems as though Britain has gone a step further - released intends to - as far as digital currency adoption is concerned. Contrary to a number of other leading developed nations, UK policymakers are fighting for (and moving towards) digital currency adoption without excessive new laws and regulation. The figurehead of the movement at present is UK Treasury committee member of Parliament Steve Baker - a recently....
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The Australian senate committee made 12 proposals to modify the current license and regulations over crypto assets, as well as the laws of taxation. The lawmakers believe Australia could take the lead in the digital economy if the laws were amicable. The Senate Committee on Australia as a Technology and Financial Center (ATFC) states that […]
The Australian Treasury Department representative Kate Preston called Bitcoin a way too "infant" for being considered for tax amendments. The comments came in response to Labor Senator Sam Dastyari's allegation towards the current Australian Tax Office (ATO) tax laws that, according to him, will end up relocating local Bitcoin business out of its jurisdiction. However, Preston believed that digital currencies like Bitcoin should first be regulated properly before being amended for tax purposes. "The Treasury view would be that, taxation is not where you start," she told the Senate....