Collapse of crypto platform raises big CGT questions
The recent bankruptcy of Celsius raises important questions around the tax treatment of crypto assets in the event of an exchange or platform collapsing.
Speaking in a recent webinar with Crypto Tax Calculator, Cadena Legal director Harrison Dell said the issue of whether taxpayers and SMSFs can claim a capital gains tax loss for their crypto assets following the collapse of an exchange is still somewhat unclear at this stage.
In mid-July, cyrptocurrency platform Celsius filed for Chapter 11 bankruptcy protection after previously halting customer withdrawals in June this year.
The collapse of the platform raises questions around the tax treatment of the crypto assets still locked on the platform.
Read more at SMSF Adviser
