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Yesterday saw the second hearing of the Australian Senate's Digital Currency Inquiry take place in Canberra.
Testifying were various public servants from the revenue and law enforcement arms of the government. The clear consensus was regulation is needed to give certainty to the industry in Australia.
The parliamentarians present were particularly keen to probe witnesses about how the tax treatment of Bitcoin could be altered in Australia. Also giving testimony was noted Digital Currency computer security expert, author and speaker Andreas Antonopoulos who opened proceedings. If you would like to know more about just what Digital Currencies can truly mean for Australia's future, challenges at hand and opportunities in front of us, I would encourage you to view his testimony on YouTube at the link below.
I was honoured last week to speak at the Charted Accountants Australia and New Zealand's FutureINC conference hosted in Brisbane by their CEO Lee White. The attendees showed great interest in the development of our industry and you can download a copy of CA ANZ's discussion paper on Digital Currencies here.
ADCCA Director Chris Guzowski of member ABA Technology also had the pleasure of Chairing Day 2 of the ' ' Payments Innovation 2015' conference in Sydney last week. This event brought together FS leaders form the likes of Suncorp, Coles, Facebook, the National Retailer Association, and Westpac to discuss the implications as well as tremendous opportunities now presenting them-selves through the emergence of new payment systems such as Bitcoin. With now more than $1.3 Trillion globally moving through the payments market, and with more than 2 billion un-banked people at Australia's door step in the Asia-Africa region, the conversations had were both engaging, robust and promising. ADCCA was pleased to help lead this discussion. This week also saw the ADCCA begin working more formally with our UK counterpart organisation - the UKDCA -on issues such as tax policy, international regulatory and law enforcement matters. They have had great success working with their government as well over the last number of months and we commend their work on advancing our industry in that corner of the world.
Finally, it is with great sadness we note the passing of Adam Tepper, who tragically lost his life in a motorcycle accident in Thailand last week. Many would know Adam from his work at Independent Reserve as their CEO, one of Australia's most prominent Bitcoin companies. He was a passionate advocate for Bitcoin and new what this technology means for all Australians; as such had been recently writing a book intended to help us all those engaged in this space be able to better explain the benefits of Digital Currencies and the Blockchain to the public. A link can be found at the bottom of this Newsletter to make a donation to a fund in his memory, and to help complete his work. Adam will be sadly missed.
Yours very sincerely,
Ronald M. Tucker
Chairman ADCCA
Delegate - Bit Trade Australia
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Andreas Antonopoulos, World Leading Digital Currency Expert's Testimony
-Watch Andreas' Informative Testimony-
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DIGITAL CURRENCY HEADLINES
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"Study: Consumers Feel Bitcoin More Secure than Mobile Payment Apps"
CoinDesk | 27 February, 2015
 A new survey shows that US consumers believe payments made with bitcoin are safer than those conducted using mobile wallets or apps.The report, published by Chicago-based Walker Sands Communications, focuses on changes in retail payments behavior, particularly as it pertains to digital transaction methods.
-Read More-
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"Ex-Goldman Sachs, Paribas Launch Bitcoin Derivatives Exchange"
CoinDesk | 26 February, 2015  A new bitcoin derivatives trading platform called Crypto Facilities has launched in London, backed by a pair of co-founders with longtime experience in the City's traditional financial markets. -Read More-
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"Dell Computers Expands Bitcoin Payments to UK and Canada"
CoinDesk | 19 February, 2015
Dell has announced it has expanded its bitcoin payments program to consumers in the UK and Canada.The announcement was revealed today at eTail West, an annual e-commerce conference, during a keynote address by CIO Paul Walsh.
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"New Hampshire Lawmakers Debate Accepting Bitcoin for Tax Payments"
CoinDesk | 24 February, 2015
 The New Hampshire state legislature held a pair of hearings earlier this month that focused on how the state could create a means for residents to pay taxes and fees using bitcoin. -Read More-
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"Bitcoin.de Launches Integration with Fidor Bank Accounts"
CoinDesk | 23 February, 2015  Bitcoin.de's long-standing partnership with Fidor Bank has finally borne fruit, with the company claiming it is the world's first Bitcoin trading platform with a "direct connection to the classic banking system". -Read More-
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"Payment Processor Stripe Goes Live with Bitcoin Integration"
CoinDesk | 19 February, 2015 
Stripe has launched its bitcoin payments integration following nearly a year of testing. With the launch, Stripe is now allowing any merchant in its network with a US dollar bank account to accept bitcoin. -Read More-
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"Boston Fed Researchers: We're Bullish on Bitcoin as a Technology"
CoinDesk | 24 February, 2015
The Federal Reserve Bank of Boston became one of the first members of the US central banking system to issue an in-depth paper on bitcoin last September that suggested the digital currency was emerging as a cost-effective online shopping tool.
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"Digital Currencies Technology Set to Shake Up Correspondent Banking"
American Banker | 3 March, 2015
If banks can't beat Digital Currencies, they might as well join them. That seemed to be the consensus at a Tuesday panel on correspondent banking sponsored by The Society for Worldwide Interbank Financial Telecommunication.
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In Memory of Adam Tepper,
13 February 1981 - 26 February 2015
Donations: https://www.bitcoin.asn.au/adam-tepper/
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Chartered Accounts ANZ: Digital Currencies Paper
From barter to Bitcoins, digital currencies have gained our attention and continues to...
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STAY CONNECTED
www.adcca.org.au
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