Capital Gains Tax Applies to Wrapped Tokens and DeFi, Australian Tax Authority Clarifies

Australian Central Bank Insinuates CBDC is Years Away Due to Unresolved Issue

“Being able to wrap tokens is a valuable and necessary cross-chain interoperability tool,” said Michael Bacina, Digital Assets lawyer at Piper Alderman Lawyers. “To have a purely technological function triggering a tax event and tax payable is not something users would expect when using crypto-assets.”

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