Crypto is Inevitable so is KYC–AML Rules, Australia Crackdown

Crypto traders in Australia who have some dark corners in their closet have a reason to worry. The tax man has vowed to flash them out.

The tax authority in the country, Australia Tax Office (ATO), has indicated they will be conducting data matching where virtual currency exchanges will surrender traders’ data. They will then cross match the details with the details reported by individual taxpayers to establish any discrepancies.

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