Australia’s Treasurer: Progress Made to End Bitcoin Double Tax
The Australian Treasurer and the FinTech Advisory Group met on Friday to further discuss the development of innovation in the financial services sector. Among topics focused on were blockchain technology and ending the double tax for digital currencies, including bitcoin. Some Progress Made. The meeting discussed various FinTech topics, including a....
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Last year, Australian Treasurer Scott Morrison promised to swiftly act on changing the goods and services tax (GST) law, in order to end the double taxation of bitcoin and other digital currencies. However, over fourteen months have passed without any legislative progress. Now, the issue is no longer a priority and bitcoin continues to bear GST twice in....
A new report from Ovum has found that 75 percent of corporate treasures in Africa and Latin America are interested in the solutions that blockchain can deliver to banks. Developed in partnership with Temenos, a Swiss financial services software specialist, the report, Understanding Today’s Corporate Treasurer: The Implications for Corporate Banking Services [PDF], looked at how the priorities and attitudes of today’s corporate treasurer across four main areas of responsibility are changing. These are cash and liquidity management, forecasting and analytics, risk and compliance, and cost....
Australian Treasurer Jim Chalmers said that his government will improve the way Australia’s system manages crypto assets and provide greater protections for consumers. Three months after being elected into power, the Australian Labor party has finally broken its silence on how it's planning to approach crypto regulation. Treasurer Jim Chalmers announced a “token mapping” exercise, which was one of the 12 recommendations in a senate inquiry report last year on “Australia as a Technology and Financial Center.” The report was warmly welcomed by the industry which has been anxiously waiting to....
It's been a pretty frustrating weekend for users of the popular LocalBitcoins.com. On Saturday, the site - which allows users from around the world to buy and sell bitcoins from other nearby users - went down quite suddenly. Shortly thereafter, the company released information indicating the outage related to a possible hardware issue. On Sunday, much progress hadn't been made. At approximately 10:30 AM, the company announced via their Twitter feed that it would be at least another eight hours until recovery - but that proved to be an understatement. This morning, LocalBitcoins.com made....
Australia isn’t stepping on the brakes this time as it took a huge step of enlisting their first ever ETF to invest in Bitcoin and Ethereum. And it’s going live on April 27. 21Shares and ETF Securities have recently teamed up to launch two funds that are to be listed in Australia’s CBOE Exchange Trading […]