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Australian Judge's Ruling: Bitcoin Should Be Treated Like Cash, Not Property
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Australian Judge's Ruling: Bitcoin Should Be Treated Like Cash, Not Property
Australian judge Michael O’Connell has ruled that Bitcoin is “comparable” to Australian dollars and should therefore be exempt from the capital gains tax (CGT), Crypto News Australia reported on Tuesday (May 20).The decision was made during a hearing for William Wheatley, a former Australian Federal Police officer. He was accused of stealing 81.6 BTC in 2019; at the time they were worth AU$492,000, but now their value would be AU$13 million.O’Co…
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