Tax authorities clamp down on cryptocurrencies

The Australian Taxation Office  has begun collecting "bulk records" from local cryptocurrency exchanges to feed into its feared data-matching technology used to track down tax-dodging Bitcoin investors as the IRS issued another reminder that cryptocurrencies should reported. According to Australian rules, people making a profit on Bitcoin trading or other digital currencies are liable to pay a capital gains tax. The ATO monitors over 600 million transactions each year, but it has historica...