Canada Adopts International Crypto Tax Reporting Standard
Canada is aimed at having the OECD standard for crypto asset tax reporting in place by 2027, as agreed with 46 countries.
A new trial by the Australian Competition and Consumer Commission (ACCC) has been implemented to work to reduce the number of scams sites in the country. The new trial is set to resolve how many Australians lose money to Bitcoin and cryptocurrency scams.
According to the ACCC, over the last year Australians have suffered over $113 million USD in losses over cryptocurrency scams that have not been regulated. The trial by the commission will see a partnership with the Australian Securities and Investment Commission (ASIC). In the intuitive, the commissions will create a way to effectively and efficiently remove scam websites once they have been reported. Austrian regulators will be involved in this regulatory process.
According to the ACCC, it will be using a services from Netcraft, a United Kingdom-based firm, as part of its cybersecurity framework. Since the trial has been launched, several scam sites have already been taken down inducing phishing sites that are designed to impersonate both businesses and authorities in the country. Other scams include “puppy scams, shoe scams, cryptocurrency investment scams and tech support scams.”
Canada is aimed at having the OECD standard for crypto asset tax reporting in place by 2027, as agreed with 46 countries.
Since the well-anticipated spot Bitcoin ETF event is over, some industry experts have turned to warning signals for the the road ahead.
Bitwise revealed that in the month after past BTC halving price saw a little movement but in the following year it saw significant gains.
The Blockchain for Good Alliance alliance is joined by numerous organisations including Bybit Web3, Solana Foundation, Moledao and others.