September 8, 2022 Daniel Smedley Business Law, Taxation, Federal Taxes, Cryptocurrency, Digital Law Draft legislation released clarifying crypto is not foreign currency for tax purposes September 8, 2022 Daniel Smedley Business Law, Taxation, Federal Taxes, Cryptocurrency, Digital Law In the absence of a comprehensive definition of ‘foreign currency’ in the Australian tax legislation the ATO and Australian courts have interpreted ‘foreign currency’ to be currency issued or recognised by an overseas sovereign state.