Changes coming for cryptocurrency and digital assets
Cryptocurrency and digital assets are regarded by many as the next big thing. No wonder then that participation in the crypto/digital assets market jumped by a staggering 63% from the 2020 to the 2021 financial year. This is partly due to ease of access which has been facilitated by multiple asset exchanges making their platforms readily available in Australia. With this increase in participation also comes increasing scrutiny from the government, with the release of terms of reference for various reviews into regulation and taxation of digital assets.