The UK Government has recently launched a ‘Call for Information’ on the benefits and risks of digital currencies. The move, which is intended to support the growth of the UK as a global financial centre, builds on its earlier announcement of conducive tax rules for trading and ‘mining’ activities. The…
The Australian Tax Office (ATO) on August 20, 2014, released comprehensive but general guidance on the tax treatment of cryptocurrencies in Australia, and specifically bitcoin. The ATO has decided that transacting with bitcoins is akin to a barter arrangement, with similar tax consequences. The ATO’s view is that Bitcoin is…
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