On October 15, 2026, the Australian Treasury released draft legislation titled Treasury Laws Amendment Bill 2026: Tax information reporting to incorporate the OECD Crypto-Asset Reporting Framework into domestic law. The proposal establishes both international exchange mechanisms and a domestic crypto transaction reporting regime to assist the Australian Taxation Office. Public feedback is open through October 28, 2026, with Australia targeting 2028 for its first cross-border data exchanges among 77 participating jurisdictions.
Australia draft legislation details and consultation
- ▪On October 15, 2026, the Australian Treasury released draft legislation titled Treasury Laws Amendment Bill 2026: Tax information reporting to incorporate the OECD Crypto-Asset Reporting Framework into domestic law.
- ▪The Australian Treasury opened public consultation on the draft crypto tax reporting legislation through October 28, 2026.
- ▪The proposed Australian crypto tax reporting legislation does not establish a new tax rate on cryptocurrencies, but aims to improve access to information for administering existing tax laws.
- ▪The proposed Australian bill introduces both international exchange obligations and a domestic crypto reporting regime to provide transaction records to the Australian Taxation Office.
- ▪The Australian draft legislation includes provisions to update Australia's Common Reporting Standard governing the automatic exchange of financial account information between tax authorities.
OECD Crypto-Asset Reporting Framework overview
- ▪The OECD approved the Crypto-Asset Reporting Framework in August 2022 to combat cross-border tax evasion risks arising from taxpayers holding digital assets in foreign jurisdictions.
- ▪The OECD released technical reporting specifications for the Crypto-Asset Reporting Framework in October 2024 and issued updated data exchange guidance in July 2025.
- ▪,The OECD Crypto-Asset Reporting Framework covers exchanges between crypto assets and fiat currencies, exchanges between different crypto assets, and certain crypto asset transfers.
- ▪Under the proposed framework, covered crypto service providers must collect customer identification details and report relevant crypto transactions and transfers to national tax authorities.
Timeline and global adoption of the framework
- ▪Participating jurisdictions under the OECD framework are scheduled to begin their first cross-border exchanges of crypto tax information between 2027 and 2029.
- ▪Australia plans to conduct its first international exchanges of crypto tax data under the Crypto-Asset Reporting Framework in 2028.
- ▪Australia first committed to adopting the OECD Crypto-Asset Reporting Framework in November 2023 and conducted an initial public consultation from November 2024 to January 2025.
- ▪As of September 2026, 77 jurisdictions, including Australia, the United Kingdom, Japan, and the United States, have committed to adopting the OECD Crypto-Asset Reporting Framework.
Crypto platform regulations
- ▪The proposed rules for Australian crypto platforms form part of a digital asset financial services framework with an implementation schedule separate from the Treasury's tax reporting proposal.
- ▪Separately, the Australian Securities and Investments Commission opened consultation through November 27, 2026 on proposed licensing, customer asset protection, and financial resource rules for crypto platforms.
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