Australia is also starting to tighten its scrutiny of crypto asset reporting. Can on-chain transactions really stay under the radar forever?
The Australian Treasury is seeking feedback on a draft proposal for crypto asset tax transparency. It plans to incorporate the OECD Crypto-Asset Reporting Framework into Australian law and establish a reporting mechanism for transactions by local residents. This means that trading platforms and related service providers may have greater information-reporting obligations in the future. However, the proposal is still at the consultation stage and has not yet become law.
Do you think crypto transaction reporting can combat tax evasion, or will it push more people toward self-custody wallets?
$BTC #澳大利亚提议加密交易申报法案
The Australian Treasury is seeking feedback on a draft proposal for crypto asset tax transparency. It plans to incorporate the OECD Crypto-Asset Reporting Framework into Australian law and establish a reporting mechanism for transactions by local residents. This means that trading platforms and related service providers may have greater information-reporting obligations in the future. However, the proposal is still at the consultation stage and has not yet become law.
Do you think crypto transaction reporting can combat tax evasion, or will it push more people toward self-custody wallets?
$BTC #澳大利亚提议加密交易申报法案