[LINK] Bitcoin Virtual Currency

[Jan Whitaker]

At 10:55 AM 15/06/2011, stephen at melbpc.org.au wrote:
>Hence, in a sense, Bitcoin is a metaphore for cash. Now, a bank, credit
>card company & paypal etc claim a cut for ALL online transactions, just
>like in the real world, if we don't pay with cash. So, why shouldn't we
>have a virtual 'cash' system, without financial institutions being able
>to claim cuts on ALL online transactions? So any Bitcoin-like system is
>like Internet cash. And imho, if it's done right, it's good for the net.

Surely these would be considered remittance dealers and would be 
regulated by AUSTRAC and be required to register with them. That will 
expose them to ATO etc. It's a money laundering thing.

Jan



Melbourne, Victoria, Australia
jwhit at janwhitaker.com
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