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Australia Will Make Bitcoin Legal Money
This just in. There is another reason Bitcoin broke into the 1800s today. Australia announced that as of July 1, 2017, Bitcoin will be treated as legal money.
But in addition, according to “Cointelegraph.com” Bitcoin will become tax free:
“Bitcoin traders and investors will not be taxed for purchasing and selling Bitcoin through regulated exchanges and trading platforms.”
On top of all that, the Australian government, suddenly totally willing to spur the growth of fintech and the digital currency market is trying to put regs together to prevent local banks from unfairly denying banking services to Bitcoin – the gold standard in BTC acceptance.
According to the Australian government:
“Innovation will drive productivity growth in Australia. That is why the Government’s $1.1 bln National Innovation and Science Agenda (NISA) is designed to enable Australia to take full advantage of new economic opportunities. The Government is committed to establishing Australia as a leading global financial technology (fintech) hub and is announcing a new package that aims to position our local fintech industry as a world leader.”