Taxing cryptocurrencies remains a complex and often controversial topic. Recently, Australia launched new cryptocurrency tax guidelines. Not surprisingly, they have sparked heated debate among experts and stakeholders in the field.​
Australian Taxation Office’s stance on cryptocurrency taxation
On November 9, the Australian Taxation Office (ATO) released guidance that could have a significant impact on how investors and traders involved in decentralized finance report their taxes. The ATO’s move marks a key step in addressing the tax implications of rapidly growing DeFi activities. However, the clarity and applicability of these guidelines have been controversial.

The proposed rules targeting digital assets are expected to generate nearly $10 billion in additional tax revenue by 2025.

The Biden administration unveiled its proposed 2025 budget on March 11, which included provisions to implement a series of regulatory measures targeting digital assets.
The proposed rules are expected to generate nearly $10 billion in additional tax revenue by 2025.
plug loopholes
The new budget proposal specifically targets a loophole that has previously allowed wealthy cryptocurrency investors to disproportionately benefit. By closing this gap, the government seeks to create a more level playing field for all investors and improve tax fairness. The measure is part of a broader effort to adapt the state's tax code to the modern era of investment and technology.