ImportantAustralia Releases Draft Legislation Proposing Adoption of the OECD Cryptocurrency Tax Reporting Framework

Australia has published the draft legislation titled *Treasury Laws Amendment (Reporting of Tax Information) Bill 2026*, which is now open for public consultation with a closing date of October 28. According to the Australian Treasury, the draft aims to establish a framework that incorporates the Organisation for Economic Co-operation and Development (OECD) Crypto-Asset Reporting Framework (CARF) into Australian law, and introduces a domestic crypto-asset reporting regime. Australia first signaled its intention to implement CARF in November 2023, and conducted consultation on the proposed scheme in the second half of 2024. The government subsequently announced plans to implement CARF and the domestic crypto-asset reporting regime in the *2025-26 Mid-Year Economic and Fiscal Outlook*; the international exchange of cryptocurrency tax information is expected to commence in 2028.

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