avatar of @melbourneswest
Melbourne's West
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1 min read

Australia has deprivation of income laws, I'm not sure other countries have the same but it is pretty much why we haven't tackled cryptocurrancy in Australia.

It has always been given the Green Light but is treated as secondary income so taxed at a higher rate.

If someone is earning an income through an account and this occurs the person could sue and easily win a case of deprivation of income and also file for loss of income requiring the person who shut them down to pay them a % of income they would have earned based off an average.

These laws have never been tested so no one is sure 100% of the outcome, but it is an avenue of protection for people.

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