Aussie federal budget reaffirms BTC won’t be treated as foreign currency
Cointelegraph
Published Oct 26, 2022 10:19PM ET
Updated Oct 27, 2022 12:00AM ET
The first federal budget under the Anthony Albanese led-government has outlined that Bitcoin (BTC) will continue to be treated as a digital asset, and not taxed like a foreign currency.
This clarification comes in response to El Salvador’s adoption of BTC as legal tender in September last year, with the Australian government essentially ruling out a shift in classification despite it being used as a currency in El Salvador and the Central African Republic.
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Written By: Cointelegraph
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