Australia Proposes Crypto Transaction Reporting and…
By Karthik Subramanian
AI summary of the source article
Australia has released draft legislation to adopt the OECD's Crypto-Asset Reporting Framework and establish domestic crypto transaction reporting. The proposed rules require crypto service providers to report customer and transaction data to tax authorities.
Why it matters
The measures form part of the government's broader effort to improve tax transparency as cryptocurrency ownership and cross-border transactions become increasingly integrated into financial markets.
Key facts
- The Australian Treasury opened consultation on October 15, 2026, with public submissions closing on October 28.
- The draft legislation proposes adopting the OECD's Crypto-Asset Reporting Framework (CARF) and establishing a domestic reporting regime for Australian residents.
- Crypto service providers would be required to collect and report customer identification details, tax residency, transaction values, and activity to the Australian Taxation Office.
Source excerpt · FinanceFeeds
Australia has released draft legislation that would introduce cryptocurrency transaction reporting requirements and enable the automatic exchange of digital asset tax information with foreign authorities. The Treasury opened consultation on October 15, 2026, proposing to incorporate the Organisation for Economic Co-operation and Development's Crypto-Asset Reporting Framework (CARF) into Australian…