‘Wild West’ of Crypto Readies for Tax Laws

The “wild west” of cryptocurrency is starting to gain the acceptance and understanding of lawmakers. Robert Francis, managing director at trading platform eToro Australia, said the explicit acknowledgement of crypto in the Australian federal budget was a first, with new tax laws to be introduced to parliament. He said the budget had provided investors and the industry with clarity on where the Australian government stands on digital asset classes in comparison to foreign currency and traditional markets. “It shows a step forward towards crypto and blockchain technology integration in the traditional financial system,” Mr Francis told AAP on Friday. Blockchain creates a digital ledger of transactions and is the technology that underpins the currencies….(Source:TheEpochtimes.com) Read Complete Story