Australian Newsstands to Sell Bitcoin Over-the-Counter
Obtaining Bitcoin needs to be made a whole lot more convenient. Enthusiasts in Australia are tackling this problem, by letting consumers purchase cryptocurrency over-the-counter at their local newsstand “soon.” Buy Newspapers & Bitcoin in One Place. Two Australian startups have come up with an over-the-counter solution that makes obtaining Bitcoin as....
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In a move that could potentially boost bitcoin usage in the country, two Australian tech startups will set out to launch an over-the-counter platform for selling bitcoin for everyday consumers. An endeavor to make bitcoin more accessible and usable will see 1,200 newsagents (small retailers and newsstands) across Australia selling the cryptocurrency over the counter. This feature will mark the first time that Australians can fundamentally purchase bitcoin, with cash, over the counter. According to the Australian Financial Review, all 1,200 newsstands will be fitted with an iPad that....
The Australian Government announced in its report entitled “Backing Australia's Fintech” that the current double tax law on digital currencies including Bitcoin is soon to be reformed. Digital currencies such as Bitcoin were in 2014 established by the Australian Taxation Office (ATO) as intangible assets for goods and services tax purposes. Thus, payments involving bitcoin have been considered as a form of barter rather than conventional transactions. However, the major issue with the GST law on digital currencies is that Australian residents who purchase items or goods using bitcoin are....
AUSTRAC’s Brad Brown pointed towards the Mt. Gox debacle and Silk Road to make the report’s “findings” stick. The status of Bitcoin in Australia has changed quite a few times over the past few years. The latest legislative proposal will see Bitcoin regulated stricter under the country’s regular AML and counter-terrorism financing laws. To put this into terms people can understand, the Australian government sees Bitcoin as an emerging threat, rather than a valuable innovation, based on the latest AUSTRAC report. It is not entirely surprising to see the Australian government see Bitcoin as a....
Australian banks have advised Australian bitcoin companies they are closing their accounts, according to The Australian Financial Review. The publication has seen the letters from Westpac Banking Corporation and Commonwealth Bank of Australia. Ron Tucker, chairman of The Australian Digital Currency Commerce Association, said all large Australian banks were shutting the door on bitcoin companies. The banks sent letters to Australian bitcoin exchanges, including Bit Trade and Buyabitcoin. The letters said the banks will close the exchanges' accounts and did not give any explanation. At least....
PRESS RELEASE. As the most trusted platform to buy, sell and exchange Bitcoin, Ethereum, and more than 230 other cryptocurrency tokens for Australian investors, CoinSpot encourages people who have not yet explored the investment opportunities surrounding crypto to make this new year the time they get involved. Of the four largest crypto tokens, which include Ethereum and Bitcoin, three saw enormous gains during 2020, and at the start of January 2021, the market is worth over a trillion USD. CoinSpot encourages Australian investors to start expanding their portfolios into this exciting....