Great link!
I'm pleasantly surprised the those making this paper actually have quite a good knowledge on the matter (did their homework properly).
Because many digital asset transactions take place several steps away from a crypto-to-fiat-currency trade, it can be very difficult for taxpayers to correctly assess their CGT liabilities under the current tax law and ATO guidance for these transactions.
I'm not into DeFi, but I'm impressed:
The committee heard that one of the most considerable barriers to entry for DeFi products is the numerous taxable events that may arise when a crypto-asset token interacts with a DeFi protocol.
And the list of recommendations - from a quick read - look pretty good.
Will Australia become the first country with proper regulation for crypto? Could be. I just hope they don't "break" this when they turn them in actual laws.