The Australian Taxation Office investigates crypto asset tax avoidance cases involving a global financial institution

The Australian Taxation Office (ATO) is processing 12 tax avoidance cases involving the misuse of cryptographic assets. It is worth noting that the agency's deputy commissioner, Will Day, said at least one case involved a “global financial institution” that was suspected of concealing the taxpayer's assets and income details. The ATO's actions will be led by the J5 organization, an international task force composed of tax enforcement agencies in Australia, Canada, the Netherlands, the United Kingdom and the United States.