In an effort to standardise a crypto tax reporting framework, Australia is working on a regulation with its Treasury officials announcing on Thursday that a newly drafted bill would write the Organisation for Economic Co-operation and Development (OECD’s) Crypto-Asset Reporting…
Key Takeaways Crypto scammers have taken their schemes to a new level by impersonating Australian police officers and abusing official government systems to coerce victims into giving up their digital assets, the Australian Federal Police (AFP) said Thursday. According to…
Key Takeaways The Australian Taxation Office (ATO) has clarified its position on the capital gains tax (CGT) treatment of decentralized finance (DeFi) and the wrapping of crypto tokens, emphasizing its commitment to taxing Australians on capital gains during the wrapping…
Key Takeaways Australia has put out new rules on crypto ATM’s to curb rising digital asset crimes. The country’s financial crimes agency- The Australian Transaction Reports and Analysis Centre( ASUTRAC), has placed a 5,000 Australian dollar ($3,250) limit on cash…
Key Takeaways A recent judgment made by a court in Australia has widespread implications for crypto transactions in the country. As per an Australian Financial Review report, a judge ruled that crypto should be viewed as money instead of as…
Key Takeaways Australian authorities have confiscated assets valued at more than 4.5 million Australian dollars following a lengthy probe into stolen crypto linked to a Queensland man. The Australian Federal Police-led Criminal Assets Confiscation Taskforce (CACT) secured the forfeiture of…
Key Takeaways Australia’s financial intelligence agency, AUSTRAC, has initiated a regulatory push targeting digital currency exchanges (DCEs) it believes are no longer operational. In an official statement, the agency called on inactive digital currency exchanges to voluntarily cancel their registrations…
Key Takeaways In a significant ruling for Australia’s cryptocurrency sector, the Full Federal Court has overturned a prior decision requiring fintech company Block Earner to hold a financial services license for its discontinued crypto-yield product, known as “Earner.” The decision,…
Key Takeaways The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against Binance Australia Derivatives, alleging that the company misclassified over 500 retail investors as wholesale clients. The regulator stated that the misclassification denied the investors key consumer…
Key Takeaways Australia’s financial intelligence agency, AUSTRAC, has established a dedicated task force to address compliance issues in the country’s cryptocurrency ATM sector. The initiative aims to mitigate risks of money laundering and scams associated with digital assets, with AUSTRAC’s…
