The Australian Treasury is seeking public consultation on a legislative draft regarding the foreign currency tax exemption for cryptocurrencies such as Bitcoin

Chain Catcher News, the Australian Treasury issued a document titled "Clarification that Cryptocurrency is Not Taxed as Foreign Currency," seeking public input on a legislative proposal regarding the tax exemption of cryptocurrencies like Bitcoin. From September 6 to September 30, the public can share their views on the proposed legislation. If enacted into law, this legislation will amend the existing definition of digital currency in the Goods and Services Tax (GST) Act—effectively excluding crypto assets from the definition of foreign currency, but this legislation will not affect the capital gains tax on cryptocurrencies held as investments. (Source link)