SYDNEY, Oct 26 (Reuters) - The cryptocurrency industry said on Wednesday it was disappointed with Australia's decision to continue treating digital currencies as assets for tax purposes, and not as foreign currency. The government said in its budget announcement on Tuesday it would introduce legislation to enshrine the treatment of digital currencies such as Bitcoin as an asset. This means investors would pay capital gains tax on profit from selling crypto assets through exchanges and when they trade digital assets. The crypto sector is largely unregulated in Australia and the Treasury said in August it would prioritise ‘token mapping’ work, which will help identify how crypto assets and related services should be regulated. "Europeans are going to be pulling ahead, the U.K. now has a prime minister who is familiar with central bank digital currencies," Bowler said.

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