Whether you’re a tax lawyer, a crypto advocate, or crypto-curious, it pays to know the regulatory landscape. A recent case has also raised whether the prospect of defining cryptocurrency as property rather than money might alter the tax requirements for crypto investors and traders.
With even the President of the United States having a cryptocurrency in his name (Trump Coin, naturally), it’s perhaps unsurprising 6.5 million Australians have invested in the digital currency. The online trading platform, Independent Reserve, indicates Australians aged over 65 have become a growth market for cryptocurrency (from 2 per cent in 2019 to 8.2 per cent). Older Australians are viewing cryptocurrency as an additional investment within their self-managed super despite a warning from the Australian Securities and Investments Commission (ASIC) that cryptocurrency is a “very high-risk” investment.
According to National…
