Published On: Tue, Aug 8th, 2017

Australia Latest Country to Push for National Cryptocurrency

Share This
Tags

Law makers from both sides of the political divide have called upon the Reserve Bank of Australia to embrace blockchain technologies. This follows yesterday’s all time high Bitcoin price of over $3400.
Liberal senator Jane Hume from the ruling coalition and Labour senator Sam Dastyari have formed the Parliamentary Friends of Blockchain, as reported in the Sydney Morning Herald. They claim that failing to capitalise on the potential of crypto-currency could put the future of Australia’s A$146 billion financial services industry at risk.

Don’t Miss the Boat
Noting the rise of Bitcoin from humble beginnings to the serious financial proposition it is today, Senator Dastyari said that Australia could be left behind if it didn’t pursue the development of its own government-backed digital currency:
The question for Australia is are we going to follow or are we going to lead? We need to find a bipartisan way of doing this.
Leading might be a bit of an ambitious goal. Until May bitcoin was classed as an “intangible asset” by the Australian tax authorities. This lead to a double taxation on crypto-currency transactions, which somewhat stifled the industry.

Already Playing Catch-Up

Read more –> click here all content is copyright Bitcoinist.

Need Bitcoin marketing and PR? Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin or cryptocurrency press release CLICK HERE..

Powered by ABITCO.IN

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

ALL Bitcoin News

Like what you’re reading?

Never miss any breaking Bitcoin news by following us on Facebook and Twitter!


SUBSCRIBE OUR RSS FEED AT: http://abitco.in/feed

×