Australia Wants a Cashless Society, Pushes To Recognize Bitcoin as a ‘Digital Global Currency’

A comprehensive breakdown. Personally I do believe Beastcoin, errr Bitcoin, is very much a precursor to the coming global financial system of the AC. What is so alarming is that so many people perceive it to be some kind “empowering alternative” to the Central Banking system, when in reality the adoption of virtual currency will create the most dominant central banking control the world has ever seen.

I don’t believe that Satoshi is anything more than a fictional character created to introduce this technology to the world. (but that’s just me…) 😖

The Australian government on Tuesday suggested treating bitcoin and other digital currencies on a par with standard money in the country. The move comes in contrast to an earlier position towards digital currencies as “intangible assets.”

“The committee is of the view that digital currency should be treated as money for the purposes of goods and services tax,” a report from Australian Senate Economics References Committee said. The committee recommended to amend last year’s decision by the Australian Taxation Office (ATO), which stated bitcoin was a commodity, “neither money nor a foreign currency,” and should be taxed accordingly.

Anglo-Australian bitcoin exchange CoinJar, the Bitcoin Foundation and the Bitcoin Association of Australia were among 48 organizations that submitted information to the committee.

Bitcoin (virtual currency) coins are seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, May 27, 2015. British authorities have come out in support of digital currencies in the name of promoting financial innovation, while proposing that regulations should be drawn up to prevent their use in crime. But it is technophiles who are leading the drive to make London a real-world hub for trade in web-based "cryptocurrencies", of which bitcoin is the original and still most popular.   Picture taken May 27, 2015.  REUTERS/Benoit Tessier - RTX1EWUX Bitcoin (virtual currency). British authorities have come out in support of digital currencies in the name of promoting financial innovation, while proposing that regulations should be drawn up to prevent…

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