The Commonwealth of Australia is the sixth largest country in the world and is the only one that occupies a whole continent. It also includes several islands. The state has a strong economy and its GDP per capita is bigger than that of Great Britain, Germany, etc. The growing popularity of Bitcoin hasn’t gone unnoticed in the country. In Australia, cryptocurrency is almost a legal form of payment, as the government is making efforts to give Bitcoin the status of either a national or foreign currency. In July 2017, the government cancelled a double tax for transactions with Bitcoin in Australia to provide a better cryptocurrency environment. In Australia, cryptocurrency exchange is possible with plenty of ATMs and online platforms.
Boomers down under are worried about volatility, but millennials are filling their crypto bags.
Two-fifths of Aussie millennials think crypto investments beat real estate
The ATO said it already knows who is invested in cryptocurrencies and expects cooperation.
Australian tax office: Report crypto profits or else
Australian senator Andrew Bragg has urged regulators to develop clear and comprehensive regulations to encourage innovation and ensure global competitiveness.
Senator warns lack of regulations could harm Australian crypto innovation
Over 40% of respondents were unaware that Bitcoin had a limited supply.
More than half of Australians think Elon Musk invented Bitcoin: Survey
Numerous institutional crypto product applications have been lodged as Australians buy more Bitcoin.
VanEck and BetaShares apply for Aussie crypto ETFs as family offices snap up BTC
Australia’s senate committee on technology and finance wants lawmakers to establish a national blockchain land registry.
Australian senate committee calls for national blockchain land registry
The new ASEAN Blockchain Consortium aims to engage with regulators to ensure compliance and raise industry awareness.
New ASEAN blockchain consortium targets cross-border cooperation