Australia in the regulation of the use of the revised bitcoin continues to increase

Australia in the regulation of the use of the revised bitcoin continues to increase


In recent months, the Australian government has managed to modify the bitcoin regulatory rules, these provisions before is not conducive to business and personal use of encryption currency. Australia has shown signs of encryption currency industry increased significantly, many industry insiders believe that investor confidence in bitcoin Australia federal legislative amendment to improve.

The use of Australia bitcoin rate is rising

In the 2017, Australia bitcoin and encryption currency by increased, many people will be new investors and the recent increase is attributed to the regulatory environment for Australia cryptocurrencies.

Sydney based bitcoin exchange CEO AdrianPrezelozny said his exchange “every day there are 100 to 200 new users”. Prezelozny told the Australian media, the company is currently handling daily funds of up to 4 million Australian dollars ($3 million 160 thousand).

In July this year, Australia ended the notorious repute bitcoin double taxation mechanism, the new legislation admits bitcoin is a legitimate means of payment. In August, the Australian government promulgated the provisions on the administration of encryption currency trading, as a part of the reform, to strengthen anti money laundering and anti terrorist financing behavior, increase Australia transactions and reports analysis center of power”.

Prezelozny will continue to expand the Australia bitcoin users attributed to state regulators of encryption currency improvement. “In Australia, the number of the supervision of bitcoin makes people feel more confident, so we see different types of people in the investment. This is a global trend… The rules for the new investor confidence.”

Australia recently held the first coin issued for the first time (ICO)

The use of a block chain to promote solar energy trading company in Powerledger earlier this month raised 34 million Australian dollars ($26 million 900 thousand). The company gained currency of about $1 billion 700 million from more than 15000 participants, $10 million 700 thousand worth of Ethernet square, $6 million and $400 thousand bitcoin, Wright currency.

At the end of September, the Australian Securities and Investment Commission (ASIC) released the guidelines seek to carry out ICO company in australia. The guidelines attempt to clarify the conditions under which ICO will belong to the “company law” regulatory jurisdiction. ASIC concluded, according to the special nature of a ICO, ICO is issued by management of investment plans, stock bid, or derivatives offer regulatory requirements.

At the beginning of September, Australia second ATM deployment Stargroup announced that it has with the blockchain payment service provider DigitalX has signed a joint venture agreement, the existing ATM machine into bitcoin ATM machine. The agreement will witness the conversion of Stargroup’s more than 500 ATM, and more than 2400 terminal through Starlink management of the company’s subsidiaries. In August this year, published an article on the Wooranna primary school “blockchain program” — it is the Australian young people to provide a variety of opportunities to experience and explore the encryption currency and distributed classification technology.

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