Questions tagged [crypto]

Federica Fri Mar 29 2024 | 7 answers 1334

Hello, I am interested in investing in cryptocurrencies and would like to know if there is any capital gains tax applicable to crypto assets in Australia. Could you please provide me with some information about the tax implications of crypto transactions in Australia? I would appreciate it if you could also explain how the tax is calculated and any specific rules or exceptions that may apply. Thank you for your assistance.

SolitudeNebula Fri Mar 29 2024 | 5 answers 1037

I've been trading cryptocurrencies for a while now, and I'm a bit worried about taxes. If I don't report my crypto transactions to the IRS, will they ever find out? I know it's my responsibility to pay my taxes, but I'm just curious if there's any way they could potentially track my activity without me actively reporting it. Also, if they do find out, what kind of consequences could I face? I'm trying to be responsible and make sure I'm doing everything correctly, but I'm just a bit nervous about the potential consequences.

Stefano Fri Mar 29 2024 | 7 answers 1442

I've been hearing a lot about cryptocurrencies lately, and I'm considering investing. I've heard that Monzo is a popular bank in the UK, so I'm wondering if they're crypto-friendly. Do they offer any services or features that cater to crypto investors? For example, do they allow you to buy, sell, or hold cryptocurrencies within their platform? And if not, are there any plans to introduce such services in the future? I'd really appreciate it if you could provide some insight into this matter. Thank you!

SamsungShine Fri Mar 29 2024 | 7 answers 1837

I'm sorry, I'm not sure if I understand your question correctly. Cryptocurrency itself is not illegal in Australia, but its use and trading may be subject to certain regulations and compliance requirements. For example, the Australian Taxation Office (ATO) requires taxpayers to declare any income related to cryptocurrencies. Additionally, some cryptocurrencies may be considered securities and therefore subject to the Corporations Act. It is important to consult with a legal professional or financial advisor to understand the specific legal and tax implications of cryptocurrency in Australia.

EthereumLegend Fri Mar 29 2024 | 6 answers 981

Hello, I am a cryptocurrency investor and I have some coins stored in a cold wallet. I've been hearing a lot about the benefits of cold storage, but I'm still a bit confused about how it works. I want to know, will my coins continue to grow in value while they're in a cold wallet? Or do I need to move them back to a regular wallet to participate in any potential gains? I'm also worried about the security of my coins while they're in cold storage. Can you provide any reassurance or advice on this matter? Thank you very much for your time and help.