8 years ago
2
Bitcoin deemed regular currency by Australian Senate Committee
Bitcoin and other digital currencies will be treated the same way as traditional currencies under expected proposals from the Australian government, reports suggest. A Senate inquiry is set to overturn a ruling from the Australian Taxation Office (ATO) from July 2014 that classified bitcoin as an "intangible asset" for Goods and Services Tax (GST) purposes, according to the Australian Financial Review, giving a much needed boost to local bitcoin businesses.
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http://www.ibtimes.co.uk
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Interesting. Apparently they don't see Bitcoin as a threat anymore.
BTCs aren't a threat, its good to see some headway being made to bring BTCs to the masses. Hopefully other western countries follow suit soon.