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The Australian Taxation Office (ATO) has issued a warning to investors that digital currency profits are not tax-free. According to the ATO, more than 600,000 Aussies have invested in digital currency recently, prompting a significant concern that people might not declare their assets while filing tax returns.
A similar effort is underway in the U.S., with the Biden administration sounding off their plan to get tougher on tax cheats—and digital currency is an area of interest. In Southeast Asia, Thailand is targeting DeFi in its latest effort to regulate the digital currency industry.
The country's SEC announced that DeFI related activities, especially those that issue tokens, might require a license from the financial regulator. In Indonesia, a central bank digital currency (CBDC) plan is in motion amid the surging uptake of digital payment in the country.
And in Singapore, DBS Bank launched its first Security Token Offering (STO) by issuing a digital bond. The 7th CoinGeek Conference will take place on June 8- 10 in Zurich, Switzerland. Tune in to listen to innovators and investors and explore opportunities to earn BSV. Also, the Handcash Hackathon for non-bitcoin developers is taking place on June 14. Sponsored by CoinGeek, the hackathon is offering prizes up to $5,000.
