Australia

Australian Finance Watchdog to Monitor Bitcoin Exchanges

The Australian Transaction Reports and Analysis Centre (Austrac), a financial intelligence agency, has received the go-ahead to monitor Bitcoin exchanges. The news means cryptocurrency exchanges in the country will have to register with Austrac and be placed on a dedicated register. They will also be required to set up other procedures, including countering the risks of money laundering and terrorism financing, verifying customers’ identities, and maintaining some records for seven years, a ZDNet news report indicates. Aimed to counter illicit uses [...]

Read more...

As Bitcoin Price Hits Record Highs, Australia’s Government Considers Digital Currencies and Tax Implications

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. As Bitcoin’s valued soared to record heights over the weekend, the Australian government heard evidence on digital currencies and its tax implications. On Saturday, Bitcoin’s value saw its value rise to $6,200 for the first time, pushing its Market cap to $102.8 billion. With Investor interest increasing in the cryptocurrency Market, governments are turning their attention to the impact it presents. One of which is Australian’s House of [...]

Read more...