So... this was a tax raid?
Quite a harsh response, considering the rules were drafted 12months ago...
What are the money laundering measures that caused Aussie banks to disown Bitcoin? Maybe that could shed light on the motivations behind the raid?
> So... this was a tax raid? Quite a harsh response, considering the rules were drafted 12months ago...
You're making very ambitious assumptions that the tax raid is related to the rules that were drafted 12 months ago.
I'd bet significant sums of money that he isn't in trouble for creating bitcoin. Its more likely to be some other action he has done, possibly with bitcoin.
Might be more of a risk management move than anything regarding Australian legislation. AUSTRAC (in charge of supervising compliance of the The Anti-Money Laundering and Counter-Terrorism Financing Act) put out a release in September regarding the closure of bank accounts: http://www.austrac.gov.au/media/media-releases/statement-bit...
