Australia recognizes Bitcoin as money.
This measure aims to make the country more attractive to companies from the industry.
The double tax on Bitcoin will be omitted from next month on. The cryptocurrency is now treated just like normal money. The Australian government was initially critical of the cryptos, fearing money laundering and illegal transactions. Now the government has rejected this opinion.
In a statement:
"The government will make it easier for companies working with cryptos to get involved in Australia."
There are several Bitcoin exchanges in Australia. One of the most famous is the stock market Coinjar, which makes it easy for Australians to buy bitcoins.
