Australia anticipates A$3bn in cryptocurrency tax fines

Pedro Gonçalves
Australia anticipates A$3bn in cryptocurrency tax fines

As Australia begins its crackdown on cryptocurrency trading, the Australian Taxation Office (ATO) plans on collecting A$3 billion ($2.03bn) in fees and fines associated with taxes on Bitcoin and other cryptocurrencies. ATO is cooperating with cryptocurrency exchanges from within and outside the country to gain access to user information to identify who is paying their taxes and who is not. Around 4% of the people in Australia have owned crypto at least once. Deputy Commissioner, Will Da...

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