Is crypto regulated in Australia? Australia’s financial regulator set a tentative goal of 2025 for its framework to be effective, in a letter by Chair Wayne Byres on Thursday. To this end, APRA plans to conduct consultations on requirements for the financial treatment of crypto-assets, expected to be undertaken in 2023.
Is buying crypto legal in Australia? Yes. Cryptocurrencies are legal in Australia. For example, on our exchange, you can buy and sell over 160 different cryptocurrencies.
How is crypto taxed in Australia? You’re not taxed when you buy cryptocurrency in Australia. Crypto is also GST-free. However, keeping accurate records of the purchase is very important so that you can calculate the cost basis of the transaction when you decide to sell or ‘dispose’ of your crypto – as that is the moment when you will have to pay tax.
Is Bitcoin legal tender in Australia? Unlike conventional national currencies such as Australian dollars, which get part of their value from being legislated as legal tender, Bitcoin and other cryptocurrencies do not have any legislated or intrinsic value.