Questions tagged [asset]

CryptoPioneer Mon Jun 10 2024 | 7 answers 1986

Could you please clarify whether cryptocurrency is considered an asset in Australia? I'm interested in understanding how it's taxed and regulated in the country. Does it fall under any specific category for investment purposes? Is there any guidance or clarity from the authorities on how to treat crypto holdings? Additionally, how do Australians generally view crypto as an investment option? Is it widely accepted or still considered a risky and volatile asset? Thank you for your insights.

emma_lewis_pilot Sat May 11 2024 | 5 answers 658

I'm often puzzled by the classification of Bitcoin. Is it truly a currency, meant for daily transactions and serving as a medium of exchange? Or is it more accurately described as an asset, akin to gold or other commodities, whose value fluctuates based on market demand and supply? After all, Bitcoin doesn't seem to fulfill all the traditional roles of a currency, such as widespread acceptance or stability in value. On the other hand, its limited supply and increasing popularity among investors suggest it may be more of an asset. Could you please clarify this for me? How do you personally categorize Bitcoin, and what factors influence your opinion?

Silvia Thu Mar 28 2024 | 6 answers 1147

Could you please clarify the nature of cryptocurrency? Is it considered a currency or an asset? I understand that it's used for transactions, just like traditional fiat currencies. But at the same time, its value seems to fluctuate significantly, making it more like an investment or asset. How do we define it accurately? And does this definition have any implications for how we use and regulate it?