Australia`s Digital Currency Association Gets A New Member

Australia`s Digital Currency Association Gets A New Member

The government of the Australian state of Victoria has joined the Australian Digital Currency and Commerce Association (ADCCA), the country`s leading

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The government of the Australian state of Victoria has joined the Australian Digital Currency and Commerce Association (ADCCA), the country`s leading council and representation of digital currency businesses. The move comes in attempt to explore commercial blockchain applications.

The government has claimed its newly established membership through the Department of Economic Development, Jobs, Transport and Resources, according to a report in Computerworld (computerworld.com.au).

“Backed by the strength of our digital technology sector, Victoria’s fintech sector and its capabilities are growing, and so is our global reputation for developing innovative solutions using blockchain, cyber security and wealth management technologies.”, as Philip Dalidakis, the state’s minister for small business, innovation and trade, said.

“Through the ADCCA we are connecting Victoria’s fintech startups and entrepreneurs to the Global Blockchain Forum, a platform that facilitates collaboration between the world’s leading digital currency and commerce associations — the United States, United Kingdom and Singapore.”, he added.

“This will give our fintech startups and entrepreneurs the best possible chance of succeeding.”, as the minister noted.

Australia has witnessed several developments in the field of blockchain technology. For example, the government has promised to remove double taxation on digital currencies like Bitcoin, according to cryptocoinnews.com that wrote about it more than a year ago.

In May this year, Australia`s 2017 federal budget finally put an end to double taxation, as the online media reported.

Another notable example may be given with the Australian Stock Exchange (ASX), the operator of the country`s largest securities exchange. The ASX is looking into blockchain technology to apply it to its post-trade processing platform of clearing and settlement, as previously written in the media.

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