Australia is tightening its grip on digital asset oversight as the federal Treasury unveils draft legislation designed to align national tax reporting with international standards. By integrating the Organization for Economic Cooperation and Development’s Crypto Asset Reporting Framework, known as CARF, into domestic law, the government aims to eliminate gaps that have historically allowed cryptocurrency gains to slip through the cracks of traditional tax systems.

The proposed measure, titled the Treasury Laws Amendment Bill 2026 regarding tax information reporting, introduces a dual approach to transparency. While it adopts the global OECD guidelines to facilitate cross border data sharing between nations, it also establishes a dedicated local reporting regime specifically tailored for crypto assets within Australian borders. This ensures that regardless of where an exchange operates, the flow of financial information remains consistent and accessible to regulators.

Government officials are currently seeking input from stakeholders and the general public to refine the rules before they become permanent. The window for submitting feedback on the draft law remains open until October 28, giving industry leaders and everyday investors a chance to voice concerns over how these mandates will affect privacy and operational costs for exchanges.

Once enacted, these laws will likely mark the end of an era of relative anonymity for many crypto users in Australia. By automating the collection and reporting of transaction data, the Treasury intends to create a more seamless auditing process, ensuring that taxpayers are held accountable for their digital portfolios just as they would be with stocks or real estate.