Categories: Bitcoin Entertainment

Australian Government Asks Pension Applicants to Declare their Digital Currency Assets

Click here to view original web page at www.forexminute.com
Australian Government Asks Pension Applicants to Declare their Digital Currency Assets

As digital currency Bitcoin is increasingly being considered an asset, the governments too have started paying attention to it; a new row came in when the government of Australia asked its pensioners to disclose the assets saved in digital currencies like Bitcoin. This came to notice when the new pension application form came in with a new column.

According to the government authorities a small addition to a pension application form wherein it asks the applicants declare their “cyber currency” assets such as Bitcoin is like any other asset as it can be converted to regular currencies. Some observers believe that the latest addition of the column has subtle meaning and a sort of understanding that Bitcoin is an asset.

The new column regarding the digital currency assets also legitimizes the concept of digital wealth beyond a niche area. On page 14 of the application form published by the Department of Human Services (DHS), Bitcoin is listed alongside other potentially valuable assets like taxi plates, time shares, racehorses, greyhounds, travelers’ cheques, etc.

The page also contains collectables such as stamps, wine, art and fishing licenses. The move according to Jason Williams, the head of Australia’s local Bitcoin Foundation chapter, the Bitcoin Association of Australia, his organization is “delighted” by Bitcoin’s inclusion and recognition by a federal government department.

Bitcoin is Being Legitimized by the Government of Australia

Jason Williams believes that by including Bitcoin and other digital currencies on one of its standard forms, the national government is recognizing these are indeed forms of wealth, and they have also become mainstream as wealth. The digital currency may no longer be ignored by the government agencies.

According to Jason Williams with the addition of digital currency in the form the government is making a clear statement that digital currencies are legitimate and a form of wealth. The government no longer treats Bitcoin and other digital currencies as a niche but an asset. He believes that the official recognition will further help the digital currency.

He says not only does this legitimize Bitcoin as a form of wealth, the very inclusion of Bitcoin into official government documents indicates there is real effort by the government into understanding and realizing cyber currencies in general, and Bitcoin in particular, are technologies that are set to be a permanent part of our financial landscape.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com

According to the government authorities a […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama
Tags: one

Recent Posts

The best ways to buy furniture online for Bitcoins

Overview Buying furniture for cryptocurrency For most of its existence, the Bitcoin community (BTC) believed that cryptocurrency would be a… Read More

5 hours ago

Bitcoin trades dangerously close to $10,000 mark

Bitcoin's (BTC/USD) rebound from August lows remains short-lived. Satoshi Nakamoto is said to reveal identity later on Sunday. A break… Read More

5 hours ago

Bitcoin Price Will Go From $20,000 to $50,000 by 2021: Analyst

Share Tweet Send Share Economist and crypto analyst Alex Krüger believes that $20,000 won’t be the all-time high (ATH) bitcoin… Read More

5 hours ago

Terrorists Turn to Bitcoin for Funding, and They’re Learning Fast

via Middle East Media Research InstituteSAN FRANCISCO — Hamas, the militant Palestinian group, has been designated a terrorist organization by… Read More

5 hours ago

Bitcoin as a Safe Haven: Yet Another Recession Indicator Flashes

For the umpteenth time in a matter of weeks, a recession indicator has started to flash. Bitcoin, which has begun… Read More

5 hours ago

The Entire Bitcoin Dynamic is Changed by the Lightning Network, Says Samson Mow

Samson Mow, BTCC Exchange’s Founder and Magical Crypto Friends and Blockstream’s present CSO, recently shared his views on Bitcoin’s status… Read More

11 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More