Australia releases draft bill to adopt OECD crypto tax reporting framework
60-second summary
Australia releases a draft bill to adopt the OECD‑backed Crypto‑Asset Reporting Framework (CARF), joining 76 other jurisdictions in committing to standardized crypto tax data exchange; the legislation mandates reporting requirements for exchanges and custodians, with the first international data transfers slated for 2028, signaling tighter compliance expectations and potentially increasing operational costs for crypto firms while enhancing tax‑authority oversight.
Australia is among 77 jurisdictions committed to adopting CARF, with its first international exchanges of crypto tax data expected in 2028.