NEW AUSTRALIAN BITCOIN EXCHANGE INTERNATIONAL RESERVE LAUNCHES WITH NO GST

Independent Reserve (IR) is an Australian Bitcoin exchange in Sydney that ran a pre-launch survey that reached 442 people from every corner of the world. From their survey, IR determined that only 8% of participants had used Bitcoin. However, more than half claimed that they ‘felt they understood Bitcoin’ and over three-quarters admitted to having planned to ‘find out more’ in the future. Australia is still holding out as a Bitcoin bastion despite bad news, Bitcoin wallet scams, and Ostrich-like regulation. IR will charge a flat 0.5% fee and will not charge a goods and services tax (GST).
IR has chosen this time to emerge in Australia as they feel that Bitcoin’s regulatory position has been clarified both in Australia and surrounding countries such as New Zealand. Michael Go, a member of the IR Advisory Board, summarized IR’s enthusiasm:

This post was published at Crypto Coins News on October 22, 2014.