Does GST apply to crypto-assets?

The issue of GST and crypto-assets have started concerning more businesses as digital currency becomes more common-place in terms of trading and using the assets for payment. The GST treatment of assets will largely depend on whether a crypto-asset is considered to be a digital currency, and whether digital currency it is being used as a part of a trading operation or used as payment for services. It will also depend on the locations of the counter-parties of the trades. Generally, NFTs and Stablecoins are not considered to be digital currency.

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