New Zealand’s Inland Revenue Department (IRD) issued a stark warning to cryptocurrency traders: your “invisible” transactions are not invisible at all. The agency revealed it has identified 355,000 unique crypto-asset users in the country and has the tools to track their activity. The announcement signals a significant escalation in tax enforcement around digital assets and suggests other jurisdictions may follow suit as governments worldwide grapple with the challenge of taxing decentralised finance.
New Zealand Tax Authority Puts Crypto Traders on Notice
