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Replying to Avatar David Pinkerton

An important warning for any looking to borrow against their Bitcoin! Considers the ATO's (🤮) interpretation, which is illustrated with an example here:

https://www.ato.gov.au/individuals-and-families/investments-and-assets/crypto-asset-investments/decentralised-finance-and-wrapping-crypto#ato-LendingandborrowingwithDeFi

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David Pinkerton 7mo ago

Here's the example that the ATO give and should sound alarm bells if you are thinking of borrowing against bitcoin and will relinquish your keys to do so.

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