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Highlights

• In February 2020, Australia's Department of Industry, Science, Energy and Resources launched a new . It does not specifically mention charities, nonprofits, or donations but does indicate that the Australian Government has invested in a wide range of blockchain related activities, including through research grants, trade missions, funding for standards organizations, and innovation initiative pilots.
• The Anti-Money Laundering and Counter-Terrorism Financing Amendment Act of 2017 brings virtual currency exchanges under the AML/CFT legal framework, requiring such entities to be registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC), maintain an AML/CFT program, and meet certain recording and reporting obligations.
• The Australian Securities and Investment Commission has said it does not consider bitcoin to be a financial product under the Corporations Act or the Australian Securities and Investments Commission Act. As a result, activities relating to bitcoin and similar virtual currencies are subject to Australian Consumer Law rather than to the licensing and disclosure requirements in the Corporations Act.

Virtual Currency-Specific Regulations

• Australian Senate Economic References Committee Report, (Aug. 2015) ()
• Australian Tax Office, (Accessed Oct. 2019)
  • ATO finalized public rulings:
    • —Goods and services tax: the GST implications of transactions involving Bitcoin
    • —Income tax: is Bitcoin a 'foreign currency' for the purposes of Division 775 of the Income Tax Assessment Act 1997?
    • —Income tax: is Bitcoin a CGT asset for the purposes of subsection 108-5(1) of the Income Tax Assessment Act 1997?
    • —Income tax: is Bitcoin trading stock for the purposes of subsection 70-10(1) of the Income Tax Assessment Act 1997?
    • —Fringe benefits tax: is the provision of Bitcoin by an employer to an employee in respect of their employment a fringe benefit for the purposes of subsection 136(1) of the Fringe Benefits Tax Assessment Act 1986?

Nonprofit Regulations

• Australian Tax Office, (accessed Oct. 2019)
  • Australian Tax Office, (accessed Oct. 2019)
  • Australian Tax Office, (accessed Oct. 2019)
    • Australian Tax Office, (accessed Oct. 2019)
      • Gifts $5,000+ require valuation from ATO
    • Australian Tax Office, (accessed Oct. 2019)
    • Australian Tax Office, (accessed Oct. 2019)
  • Australian Tax Office, (accessed Oct. 2019)
    • Australian Tax Office, (accessed Oct. 2019)
    • Australian Tax Office, (accessed Oct. 2019)
    • Australian Tax Office, (accessed Oct. 2019)
• Council on Foundations, (Nov. 2018)

Tax Regulations

• Australian Tax Office, (Accessed Oct. 2019)
• Australian Charities and Not-for-profits Commission (ACNC), (accessed Oct. 2019)
  • Australian Tax Office, (Accessed Oct. 2019)

Anti-Money Laundering Regulations

• AUSTRAC and ACNC, (Aug. 2017)
• AUSTRAC, (accessed Oct. 2019)
• Australian Government, (brings cryptocurrencies within the scope of Australia’s AML)
• Australian Government, Submission of the Attorney-General’s Department, (Dec. 2014)
• Australian Transaction Reports and Analysis Centre (AUSTRAC), (accessed Oct. 2019)

Other Relevant Regulations, Sources, Notes

• Library of Congress, (accessed Oct. 2019)
• Law Library of Congress, (April 2019)
• Global Legal Insights, Blockchain & Cryptocurrency Regulation (2019),