Hello my Friends,
Today a short update on Bitcoin in Australia.
As Australia isn't accepting Bitcoin as a legal payment system, the taxes on using Bitcoin have been double there.
If you are a resident of Australia, and want to buy Bitcoin, you would be confronted with double taxes. Not only is the coin itself taxed at the point of buying, but also when spend anywhere in Australia.
This caused fin-tech companies to leave the Australian continent in a hurry, and now politicians have finally seen the light, and the money. The double taxes have been lowered to normal standards. Australia now hopes to not only stop the exodus of fin-tech companies, but also attract new ones, and re-attract the ones that have already left.
Certainly good news for all Aussie traders, and Bitcoin as a whole.
And as always ; Happy trading my Friends.
