I'm interested in how this will turn out. My only concern is, if you make a claim that you lost your private key, wouldn't you make it to some watchlist of possible tax evaders or something?
The Australian Tax Authorities will likely create a list of public addresses of wallets with missing/stolen priv. keys then monitor them on a yearly basis. I am not sure if they are really equipped in monitoring wallets with stolen keys. Just thinking of how they'll come after lying citizens gives me a headache.
I mean, do people really declare the amount of bitcoins they have in the hardware wallets?
Who knows. Some people do, some people don't.
Yes, it's gonna be a headache. I'm expecting they'll track the previous transactions from those address to try to find if they were indeed had bitcoins stolen (I mean, the owner can just move it somewhere, withdraw and then claim theft).
I can't see any obvious benefits to the Aussie government.
