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Australia Launches New Cryptocurrency Exchange Regulations
Apr 3, 2018
 

Australia Launches New Cryptocurrency Exchange Regulations

According to fresh information now available on the website of the Australian Transaction Reports and Analysis Centre (AUSTRAC), ‘digital currency exchanges’ must now register with authorities, as well as commit to various reporting and identity checking procedures. The move comes as Australian authorities attempt to seal the remaining loopholes in cryptocurrency use regarding tax and identity management. Against a backdrop of discontent due to a sharp rise in scams, the Australian Taxation Office last week asked for taxpayers’ input into how deductions arising from cryptocurrency profits should best be gathered. Source: CoinTelegraph (https://cointelegraph.com/news/australia-launches-new-cryptocurrency-exchange-regulations/)

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