Australian Tax Office decides bitcoins are assets, not currency

By Esther Han
Updated August 28 2014 - 10:08am, first published 2:42am
Bitcoins and other cryptocurrencies have presented challenges for tax departments worldwide.
Bitcoins and other cryptocurrencies have presented challenges for tax departments worldwide.

It is branded as a digital currency and contains the word "coin" but, according to a new Australian Taxation Office ruling, the bitcoin will be considered property.

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