The News Wrap: Telstra set to roll out fibre-to-the-node pilot for NBN

Telstra looks set to have a big role in the construction of the national broadband network, with negotiations on a fibre-to-the-node pilot due to be completed within a month.

It would involve more than 300 node cabinet units, each capable of connecting about 300 homes and businesses to the NBN.

If successful, Telstra’s pilot could become one of Australia’s biggest fibre-to-the-node rollouts and a blueprint for any increased partnership with Telstra in the construction of the NBN.

Bitcoin tax ruling

The IRS has spoken: Bitcoins are property, not currency. The US Internal Revenue Service made the ruling last week, saying that bitcoin should be classified as a tradable commodity such as stock or property rather than as a currency.

Charles Allen, chief executive officer of online marketplace BitcoinShop Inc, told Bloomberg he’d like to see the IRS reconsider its decision as virtual currencies develop.

“The implications this decision will have on the bitcoin ecosystem are far reaching, and will be burdensome for both individual users of bitcoins, bitcoin-focused business and for the general adoption of virtual currencies,” he said, adding that bitcoin users will adapt to the rules.”

This was hardly a surprise, but it has some important implications that tell us a lot about what it takes to make a currency work.

Turnbull lays down the law to ABC board

Communications Minister Malcolm Turnbull has warned ABC board members that if they are not willing to ensure the accuracy of content on the national broadcaster then they should resign.

Turnbull says the “law of the land” couldn’t be clearer and the board needs to take responsibility for accuracy and impartiality.

Aussie Dollar

The Aussie dollar is trading at 92.42 US cents, down from 92.66 cents on Friday.