Chief Financial Officer Australia: You cannot rely on crypto users to collect the relevant information and return the tax information.

On November 26, the Australian Taxation Office (ATO) announced that despite the best efforts of most traders, it could not rely on cryptocurrency traders to track cryptocurrency markets and profits. At the 14th ATAX International Tax Management Conference on November 23, ATO Chairman Chris Jordan said that many new cryptocurrency traders will not understand all of their tax obligations. “In a rapidly growing market for new investors, we cannot expect taxpayers to know that they have to list their income and expenses and complete them on their tax return,” he said. The idea was that the tax was only imposed when the tax was removed or when the cryptocurrency was exchanged for Australian currency. Chris Jordan explains that the IRS is working on ways to "pay" the right people, asking crypto users to share their assets (Cointelegraph).