Australians to be Able to Buy BTC & ETH at Newsagents

Bitcoin and Ethereum became closer to Australian people
02 March 2018   164

The Australian cryptocurrency exchange Bitcoin. com. au has launched a new service, with which the country's residents can purchase Bitcoins and Ether for Fiat. Since March 1, this service has become available in more than 1200 newsagents, reports 9Finance.

When your product is totally digital it can be hard to gain trust from consumers because there's no tangible product being handed over. Using newsagents provides consumers with a convenient and trusted way for investors to buy cryptocurrency. Traditionally, the only people who knew about Ethereum or wanted to buy it were those who already had bought Bitcoin. But now that cryptocurrency is more well-known we found that Ethereum's cheaper price point made it a more digestible value proposition for buyers. 

Rupert Hackett 

CEO, Bitcoin. com. au

 Bitcoin. com. au, which has been operating for a year and a half, is described on the site as "one of the first independent bitcoin-exchanges in Australia". Since March 1, the site also began to support operations with Ethereum for the first time.

To purchase crypto-currency in newsagents participating in the program, users only need to register their own wallet. During the purchase, the seller will scan the QR code, after which the corresponding amount of coins will be transferred within 20 minutes, Hackett added. The minimum purchase amount is AUD 50 (about $ 39). The Bitcoin. com. au commission is 5%.

Crypto Taxpayers to be supported in India

Cleartax, the largest Indian tax filing platform joins Zebpay exchange to help crypto taxpayers
24 March 2018   100

The object of this partnership is to educate Bitcoin traders and investors about the current tax laws and how to apply them in stating cryptocurrency profits and incomes. Indian authorities are aimed to find the best approach to Bitcoin and the other kinds of cryptocurrencies. The recent declarations of the regulators that new instructions would be accepted in a short time, have not been followed by real actions. So the attempts to enforce the control on this sphere have led to summaries that this task in not going to be simple at all. According to last month media reports, new frameworks and rules were waited by the end of March.

Though they failed to to introduce extensive regulations, the Indian authorities are focused to tapping into crypto earnings. In a previous month the Income Tax Department released notifications for thousands of cryptocurrency investors, as reported.

The Cryptocurrency Advisory Plan will help Indian bitcoin investors and traders in this year's tax campaign. The biggest tax filing platform Cleartax joins the Indian bitcoin exchanges and wallet providers Zebpay. They are both objected to support taxpayers to understand and abide by the law regarding taxation of the transactions with cryptocurrencies.

Cleartax declared it has the tax and technological expertise “to help people understand how bitcoin works”. Besides, the platform has started tax filing services for cryptocurrency investors. The Cleartax CEO and founder Archit Gupta claimed that together with Zebpay they are going to “simplify taxes for Indians”. The head of exchange at Zebpay, Nischint Sanghavi added that he believes the partnership with Cleartax will simplify tax planning for Zebpay`s customers.

In February about 100,000 cryptocurrency investors received tax notices from India`s Income Tax Department. Questionable dubious transactions, authorities investigated some of the cryptocurrency exchanges, and banks paused many of their accounts. Then the governmental pressure caused significant drop in trading volumes.

The authorities in Delhi have set a number of warnings against investing in BTC. Also the largest commercial banks have restricted severely the operations of local exchanges and individual cryptocurrency traders, even before any law demanding such measures is adopted.