Friday, 18 August 2017

Australia near legalizing Bitcoin

Among other sources, Labor Senator Sam Dastyari and Liberal Senator Jane Hume announced an initiative that will seek to find a way to legalize bitcoin as a measure to exacerbate Australia's international competitiveness.

The two senators urged at Central Bank of Australia that not to host bitcoin as an official currency could seriously damage the competitiveness of the oceanic financial services industry. Senator Dastyari used a rhetorical figure to refer to the issue, saying "one can ask whether Australia will be a country that follows others or a country that leads", adding later the following words: "We can not compete with our Asian neighbors in the Production of cheap goods and services. We can compete in financial services, but this will require disruptive decisions. For the Central Bank and the Australian financial institutions would be a revolutionary leap, which we want to facilitate by creating the right political environment.

Two years ago, the Australian authorities contrasted this new interparty request, since, at that time, they had decided to close the bank accounts of local startups dedicated to bitcoin and criptocoins. This measure did not have very good financial results in the country, as it caused the enterprises to leave the country, to settle in other countries with more flexible policies, such as Singapore, Japan, South Korea and Hong Kong.

This year we have tried to recover these entrepreneurial companies, mainly from fintech and bitcoin, this as an effort to make return those companies that went to other countries; however, the Australian government announced the elimination of double tribulation for bitcoin, but also stated that it has some interest in making this criptocoin a legal good and payment network. The government's position has been clear and has expressed its interest in "creating an improved environment for bitcoin businesses, and for treating bitcoin like any other form of money."

It is hoped that in the months the Executive will do the necessary steps for Australia to join the countries that have officialized bitcoin as one more currency of its financial system.

Such a thing is expected soon in India, meanwhile, follow our page, so that you know every day about the best Bitcoin rate and the best bitcoin exchanges in India. "

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