Tax treatment of crypto-currencies in Australia

Preamble This guidance paper provides an overview of the tax treatment for transactions associated with crypto-currencies, specifically bitcoin. Where other crypto-currencies have the same characteristics as bitcoin, the information in this guidance paper applies equally to the taxation treatment for other crypto-currencies. Australian Tax OfficeATO

Financial Institutions, Brokers & Venture Capital

Latest News:

In the Order, the CFTC for the first time finds that Bitcoin and other virtual currencies are properly defined as commodities.


The designated price of Bankcoin is linked directly to the price of 1oz of gold, as this is a pricing mechanism. Bankcoin is a primary medium and is not backed by any other asset. Those creating financial instruments with Bankcoin may need to be physically backed and subject to applicable laws and regulations.


Bankcoin has many global advantages which gives it its own intrinsic store of value.

Updates:

Moving forward on 

BankcoinExchange.

Platform


Information: 2015

Jay Sidhu: Customer Bank & BankMobile

 PT1 PT2

Somesh Khanna:

The bank of the future

Harvey Organ
Going to Collapse

Laurence Kotlikoff 

SIPC Ponzi Scheme

James Rickards

The Death of Money, Part 1Part 2
Jim Rickards And Craig Griffin

Video 1

Additional:

Vid 1 Vid 2 Vid 3

Jim Sinclair

Video 1

Four Horsemen - Feature Documentary
Will Work For Free -OFFICIAL RELEASE

Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

Bankcoin well positioned to preserve wealth

Max Keiser and Jim Rickards

Mike Maloney: Share

EP1EP2EP3EP4EP5



In the News

CFTC Ruling

Press Release

3 New Videos uploaded 7th Nov:

Vid1 Vid2 Vid3

Banks & Financial Institution, Islamic Banking Patent.

Savings & Deposit

Offer for Gherkin Building London

SyndicatedNews.NET

​United Nations Agreement

SyndicatedNews.NET

Translates: A Community that Shares its Wealth

Civitatis

Consorti

divitiae

Current

Bankcoin Price

$1375.00

   Market price to 1st September 2016

Bankcoin Gold Standard of Digital Mining Commodities

Bankcoin Cap & Supply 

All 100M Bankcoins were mined in 10 days, 14th May 2014 to 24th May 2014. Therefore 100M Bankcoins are now in the market place, however major stakeholders have advised the BCR they will be using their Bankcoin purely to mint. What this means is there will be a limited number of Bankcoin actually in the market place to acquire, and this may be expected to diminish over time as more and more acquire Bankcoin for the specific purpose to mint the transaction feesBankcoin is a POS coin meaning it can mint the transaction fees throughout the network. The developer has stated it will produce up to 10% pa.​

Bitcoin Support & Exchanges

Bitcoin is the perfect medium of exchange with a huge amount of growth potential. What Bankcoin Reserve believes is, Bankcoin is the perfect store of value with a stable price mechanism and the ability to support Bitcoin.

New exchanges are being worked on for Bankcoin as are brokerages and clearing houses for those wanting to trade their Bankcoin on a current market and price basis.

The Bankcoin Reserve & its Services...

The Bankcoin Reserve (BCR) does not sell Bankcoin, it was instituted to provide the Bankcoin community with security and a stable price & mechanism (gold oz price). The Bankcoin Reserve has 10M Bankcoin as a security position should any issues arise throughout the Bankcoin network. The Bankcoin Reserve is a self regulated Reserve and complies with all national and international regulations.


Bankcoin Price: Bankcoin Reserve (BCR). Fixing levels are set per Bankcoin. The Bankcoin Reserve sets the price for Bankcoin which is globally considered as the international standard for pricing of Bankcoin. The Bankcoin price is now set 1st of every month. At this point the price is announced as the 'Fixed' price for Bankcoin and all business is conducted on the basis of that price. We look forward to working with governments, policy makers, regulators including those in the financial sector to develop, implement, improve and strengthen the regulatory framework surrounding Bankcoin.