The adoption of Bitcoin by the Australians is increasing due to regulatory changes

The australian government has attempted to modify its regulatory framework on Bitcoin several times. Previously, he was notoriously unfavorable to businesses and individuals seeking to use and adopt the crypto-currency. The australian industries operating in the field of crypto-currencies have since shown signs of significant growth. Many experts attribute this improvement to the confidence of investors to changes in the federal legislation in force in Australia.

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Australia recognizes the Bitcoin as a method of payment in full

Throughout this year 2017, Australia has experienced an increase in the adoption of Bitcoin and other crypto-currencies. Adrian Prezelozny, director general of ” Independent Reserve “, a market dedicated to Bitcoin, based in Sydney, says his site has 100 new members per day. Prezelozny said in a local newspaper that his company currently manages more than 4 million australian dollars per day. Here is the main reason. In July, Australia has put an end to his famous system of double taxation for Bitcoin. Now, the Bitcoin is recognized as a means of payment is legitimate. In the framework of reforms aimed at strengthening the fight against money laundering and the financing of terrorism, the australian government has enacted new provisions governing the operation of exchanges of crypto-currencies. Prezelozny attributes the increase in users of Bitcoin to the improvement of the regulatory apparatus of the country about crypto-currencies.

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Australia has recently launched its first ICO

Powerledger, a company using the Blockchain to facilitate the trade of solar energy, has raised $ 34 million australians at the beginning of the month of October. The ICO has generated investments of more than 15 000 participants, collecting approximately 17 million australian dollars in cash, 10.7 million in Ethereum, 6 million in Bitcoin and $ 400,000 of australian Litecoin.

Here’s a little video reminder of what is a ICO.

Source : News.Bitcoin