[1] A major shift in the regulatory treatment of digital currencies has been recommended by a Senate, which aims to remove a huge regulatory barrier to the success of businesses based on bitcoins.
[2] As per Australian Taxation Office’s guidance, bitcoin is not treated as a form of currency in Australian – instead, transactions involving bitcoin are treated as a form of barter.
[3] The senate reports looks to change GST treatment of digital currencies with the view that digital currency should be treated as money for the purposes of the goods and services tax.
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