Australian tax authorities increase investigations into cryptographic tax crimes

According to Cointelegraph, the Australian Tax Agency's Australian Taxation Office (ATO) has recently stepped up its investigation into tax-focused tax crimes. It is reported that after the J5 meeting, ATO strengthened cross-border investigations. J5 is an international task force composed of tax enforcement agencies in Australia, Canada, the Netherlands, the United Kingdom and the United States. Founded in July 2018, the organization aims to address the risks associated with cryptocurrencies and cybercrime, with a special focus on cross-border tax crimes and money laundering. ATO revealed that as part of collecting data, it is seeking private contacts with cryptographic traders on tax issues.