Australia’s Treasury recently released draft tax legislation, officially preparing to enshrine the OECD’s Crypto-Asset Reporting Framework in domestic law. Put simply, it’s a crypto version of the CRS: not only will local Australian exchanges and wallet providers have to regularly report users’ transactions and balances, but—more importantly—77 jurisdictions, including the UK and Singapore, have already agreed to join, with automatic cross-border data exchange beginning in 2028. From then on, relying on overseas exchanges to hide your crypto and avoid reporting it for tax purposes will pretty much be off the table.

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