The government of Australia is eyeing crypto traders as it establishes a taskforce to ensure tax compliance.
If there’s one thing that’s near and dear to the hearts of national governments, it’s taxes. The gathering (and spending!) of revenue is what keeps the wheels of government turning. Of course, some cynical folks would say spending taxpayer money ensures that palms are greased and votes are bought.
No matter the case, governments frown at any attempt to circumvent paying taxes, which is where cryptocurrency comes into play. Australia is the latest country to begin working on keeping a closer eye on crypto transactions for tax purposes.