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2 Comments
tldr; Australia’s Taxation Office (ATO) is requiring cryptocurrency exchanges to hand over personal and transaction details of 1.2 million traders to crack down on tax evasion. This move is part of a surveillance effort to ensure compliance with capital gains tax obligations on crypto sales. The ATO’s request includes names, addresses, birthdays, and transaction details to identify traders who haven’t reported their cryptocurrency-related activities. This crackdown follows the FTX collapse and includes measures against companies selling tokens without licenses and proposes a new licensing regime for crypto exchanges.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
I thought major exchanges were already doing this as part of the regulations for a licence to operate in Australia