Start selling Bitcoin today by registering for a free CoinSpot account. More importantly, the Australian governments new vision to spur the growth of fintech and the digital currency market would most likely prevent local banks and financial institutions for unfairly denying banking services to Bitcoin businesses and exchanges. One mechanism for this, might be the use of blockchain technology, the report reads. Australia has gone further than UK as the Australian Securities and Investments Commission (asic) needs only be notified before Fintech commence testing, while UKs Financial Conduct Authority requires approval to join their sandbox. As the RegTech landscape evolves, organizations are asking the questions to better understand how to leverage RegTech to be more effective, efficient and competitive in the marketplace, the RegHacks website explains. Australian Regulators to Bring Bitcoin Under AML Laws Exciting changes are coming to Bitcoin in Australia, as the federal government will change their regulatory stance on cryptocurrency. Moreover, this legitimizes the cryptocurrency as a valid form of transferring money and value in the region, which may open new and exciting opportunities in the future.
Right now, Bitcoin is viewed as barter, rather than a currency, which is creating an unbalanced taxation situation for consumers and enterprises dealing with cryptocurrency. Bitcoin companies taking part in the delegation are Global Internet Ventures a company that operates 3 Australian bitcoin exchanges and bitcoin exchange Coin Loft. Check out our latest newsletter. Bitcoin Daily is delivered to your inbox each morning, we find the top 3 stories and offer our expert analysis. Australia Post is a wholly government-owned entity based out of Melbourne that is responsible for postal services within Australia and foreign territories.
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