Australia, a tax for cryptocurrencies

James Nguyen on Forbes writes Australia is approving a cryptocurrency regulation. This standard shows the trust of the government in the growth of digital currencies and its interest in a potentially lucrative market. Investors are required to follow the AUSTRAC requirement, so all exchanges of cryptocurrencies report the personal details for the users.
The next step is the taxation of cryptocurrencies, considered a resource by the ATO (Australian Taxation Office).
Martin Jacobs, assistant commissioner of the ATO, explains the agency is not concerned and will be attentive to the application of tax laws: “We’re alert to the potential compliance risks that arise from cryptocurrencies, but we’re not really alarmed about them… Where people attempt to deliberately avoid these obligations we will attempt to take action”, says.