Australian inquiry says digital currencies are real money

“An Australian government inquiry will recommend treating digital currencies as money, simplifying tax for people who trade with them while forcing bitcoin exchanges to monitor customers for potential money laundering and terrorism financing activities.  The Senate committee recommendations underscore governments’ growing acceptance of the role of so-called ‘cryptocurrencies’ around the world.  If implemented, the changes would align Australia with the United Kingdom and Spain by having people pay sales tax just once if they buy something with bitcoin, while leaving other nations like Sweden to fret over its true legal status. The changes would also match Australia with Canada and Singapore.”

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