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.
CEO of Independent Reserve Adrian Przelozny told Cointelegraph that he expects the trend to continue as crypto matures and becomes less volatile.
Massive jump in number of Australians who own crypto: Survey
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If Australia can embrace the crypto asset class, it could very realistically see an injection of new capital into its markets and the broader economy.
US Bitcoin ETF favors Australian approval, but Aussies need to go further
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Australian Tax Office says it can’t rely on crypto users’ own records
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Australia’s Rest Super retirement fund to invest in crypto for its 1.8M members
He told an audience that the rise of blockchain currencies has been “nothing short of phenomenal.”
ASIC chair Longo calls the growing demand for crypto ‘impossible to ignore’