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Aussie federal budget reaffirms BTC won’t be treated as foreign currency By Cointelegraph


Aussie federal budget reaffirms BTC won’t be treated as foreign currency

The first federal budget prepared by the Anthony Albanese ledgovernment stated that Bitcoin (BTC) would continue to be considered a digital asset and will not be subject to foreign currency tax.

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.