Australian Judge Grants Bitcoin Exemption From Capital Gains Tax

A landmark ruling by a magistrate in Victoria has declared that Bitcoin should be exempt from capital gains tax when compared to Australian dollars. This decision overturns the long-standing stance of the Australian Tax Office, which had been applying capital gains tax to Bitcoin transactions since 2014. The ruling comes amidst a case involving a former Australian Federal Police officer accused of stealing 81.6 BTC in 2019.