The Australian Taxation Office has recently clarified its stance on capital gains #tax treatment of decentralized finance and wrapped #cryptocurrency tokens. According to the guidance, CGT will apply to wrapped tokens and #DeFi activities, such as lending and borrowing. This means that individuals who engage in these activities will be required to report capital gains and losses to the ATO. The move is aimed at increasing #transparency and #compliance in the #cryptocurrency space, and ensuring that taxpayers pay their fair share of #taxes.

https://cointelegraph.com/news/australia-capital-gains-tax-wrapped-cryptocurrency-tokens