Media: Australia's encryption tax regulations make encrypted investors' tax payments higher than their investment value

Recently, Adrian Forza, head of Crypto Tax in Australia, said in an interview with Micky.com that one of his clients had cryptocurrency worth $20,000, but he had to pay $100,000 in taxes. It is reported that the customer had a value of $250,000 in cryptocurrency in January 2018, but when he received the tax bill, he only had cryptocurrency worth $20,000. Forza said that this was a "disaster". The customer basically only received the cryptocurrency, and the value of the cryptocurrency was reduced a lot. Now he must pay taxes for the money he does not have. He said that the Australian Taxation Office (ATO) requires taxpayers to declare the value of cryptocurrencies when they receive cryptocurrencies, which is unfair.