So much for the ATO clamping down on the black market. Bitcoin is invisible to everyone except the owner, even the ATO, unless it is inherited and even then, can be dissolved into family trusts without regulatory scrutiny. It can be bought and sold without any reporting required. What a joke on the system of taxation in a fiat currency. If Governments realised how dangerous Bitcoin is to the legitimacy of sovereign monetary policy, they would ban it outright. They won't and can't because the horse has bolted and they they've spent their time picking on low hanging fruit like personal income taxation compliance and slashing social welfare. Outstanding in it's stupidity really. And what do we hear from the mainstream economists? Chirp, chirp ....................
That's groupthink at work in the neoliberal world.