Australia's tax office has sought from crypto currency exchanges the personal data and transaction details of up to 1.2 million accounts as it looks to crack down on users who may be failing to pay their taxes amid a rising interest in digital tokens. In a notice issued last month, the Australian Taxation Office (ATO) said the data will help identify traders who had failed to report the exchange of crypto assets, or when they sold it for currency and used it to pay for goods or services. The crypto industry's complex nature can lead to a genuine lack of awareness of the tax obligations, the ATO said.
Block, the payments company led by Jack Dorsey, is expanding its bitcoin mining ambitions. Not only designing chips, the company is now developing a complete bitcoin mining system.