Media: The Australian Taxation Office allocates $1 billion to combat tax avoidance, with special emphasis on cryptocurrency transactions

According to Globe Newswire, the Australian Taxation Office (ATO) has allocated $1 billion to combat tax avoidance, with a special emphasis on cryptocurrency transactions. According to the ATO representative, the current plan is to first obtain data from a designated service provider in Australia, starting with data from a larger, well-known supplier and then moving to a smaller supplier later this year. The ATO will then be extended to foreign digital service providers, possibly from any or all of the countries currently having data sharing arrangements with Australia.