Does Crypto.com Report to the ATO?
Using Crypto.com in Australia? The ATO may be more informed about your crypto transactions than you think. Learn how Crypto.com reports to the ATO in our guide.
The ATO has a data-sharing program with crypto exchanges operating in Australia, including Crypto.com.
Crypto.com is registered with AUSTRAC, which requires it to gather and report Know Your Customer (KYC) details to meet Australian regulations.
Information provided to the ATO may include your name, residential address, phone number, wallet identifiers, transaction records, amounts, and more.
Is Crypto.com legal in Australia?
Yes, Crypto.com is legal in Australia. It is registered with AUSTRAC and complies with anti-money laundering laws.
While Crypto.com doesn’t currently need an Australian Financial Services Licence (AFSL) from ASIC, this may change by mid-2025, when ASIC plans to introduce licensing requirements for crypto platforms.
Read next: Best Crypto Exchanges Australia
Does Crypto.com report to the ATO?
Yes, Crypto.com may provide information to the ATO. As a registered Digital Currency Exchange (DCE) with AUSTRAC, Crypto.com is required to verify customer identities (KYC) to help prevent fraud and illegal activity.
Since 2019, the ATO has run a data-sharing program with Australian crypto exchanges, requiring platforms like Crypto.com to submit user transaction data. In some cases, this information might even be pre-filled in your tax return, highlighting crypto disposals and prompting you to review any potential taxable events.
What does Crypto.com report to the ATO?
The ATO collaborates with selected data providers to decide what information is shared, so the exact data Crypto.com provides isn’t made public.
However, the ATO has indicated that personal details collected through these programs may include your full name and date of birth, residential and mailing addresses, Australian Business Number (if applicable), email addresses, phone numbers, social media accounts, identity verification details, IP address used during account setup, and user ID.
The ATO may also gather data on your activities with Crypto.com, such as linked bank account information, connected crypto wallet addresses, transaction IDs, dates, times, assets, values, account balances in fiat and crypto, transfer activity, transaction descriptions, and IP addresses linked to these transactions.
Read next: Can the ATO track crypto?
What does the ATO do with the information Crypto.com provides?
The ATO leverages information provided by platforms like Crypto.com to verify that Australian investors are correctly reporting their crypto-related activities. This data may be used to identify and inform investors of their tax obligations, prompt them during the online tax return process about potential reporting requirements, and cross-reference details submitted in tax returns with data received from exchanges such as Crypto.com.
How do I report my Crypto.com taxes to the ATO?
You’re required to report any gains, losses, or income from Crypto.com to the ATO by October 31st each year as part of your annual tax lodgement. Capital gains and losses are reported in the Tax Return for Individuals (Supplementary Section – NAT 2679), while income is reported in the Tax Return for Individuals (NAT 2541). You can also complete your return online using the ATO’s myTax portal.
Crypto.com does not issue ATO-specific tax documents for Australian investors, so the easiest way to handle your Crypto.com transactions is by using a crypto tax calculator such as Koinly.
Read next: Australian Crypto Tax Guide
Report your Crypto.com taxes with Koinly
Koinly makes it simple to report your Crypto.com transactions to the ATO. Just import your transaction data using SSO or by uploading a CSV file.
Once your data is imported, Koinly automatically calculates your capital gains, losses, income, and more, and then generates your myTax report (along with other reports) to make your ATO lodgement process straightforward. Discover more about how to generate your Crypto.com tax forms with Koinly.
FAQs
Do I have to pay tax on my Crypto.com transactions?
Yes, any profits or income earned through Crypto.com are subject to tax. Learn more in our crypto tax Australia guide.
Do I need to file a Capital Gains Tax Schedule for Crypto.com?
You’ll only need to file a Capital Gains Tax Schedule if your combined capital gains from Crypto.com and any other platforms exceed $10,000 during the financial year.
Is Crypto.com registered with AUSTRAC?
Yes, Crypto.com is registered with AUSTRAC as a Digital Currency Exchange provider, which permits it to legally operate in Australia.
How do I avoid Crypto.com taxes in Australia?
There’s no legal way to avoid paying tax on crypto in Australia. However, there are legitimate strategies to reduce your tax liability, such as tax loss harvesting. Crypto tax tools like Koinly provide features such as tax optimization and asset maturity tracking to help lower your tax burden. Learn more in our guide to avoid crypto tax in Australia.
