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Here are the top 5 crypto news for the day!

Let’s dive into the news headlines one by one and see how they’ll be affecting the crypto space as we

know it, in the coming days.

Australian Crypto Investors Must Report their Gains or Face Penalties

Australian crypto investors must report their profits to the Australian Tax Office or face penalties for tax evasion, assistant commissioner Tim Loh told local media outlet Cryptocurrency investments are treated in the same way as shares under the capital gains tax framework, which many Australians are unaware of. The same is applicable while investing in non-fungible tokens (NFT).

Google’s BigQuery Service Expands on Polygon Analytics Tools

The Polygon blockchain’s data will now be connected and analyzed using Google’s BigQuery service, allowing users to approach detailed analytics and network insights. Google’s BigQuery is a serverless data warehouse that allows customers to examine massive volumes of data.

A Large Bitcoin Mine Discovered in UK Instead of Cannabis Plantation

A large unauthorized Bitcoin mine was discovered by officials in the United Kingdom who were investigating a suspected illegal cannabis plantation. The mine is located in an industrial zone on the outskirts of Birmingham, England.

Wisdomtree Files With the SEC for an Ethereum ETF

Wisdomtree Asset Management filed for an Ethereum exchange-traded fund (ETF) with the Securities and Exchange Commission (SEC). The move coincides with Ethereum’s rising popularity, which has made institutions take notice of Ethereum.

Crypto Firms are not Meeting AML Standards: U.K. Treasury Official

John Glen, a member of the U.K. Parliament and the economic secretary to the Treasury, has claimed that a number of crypto firms have failed to meet the anti-money laundering (AML) standards set by the Financial Conduct Authority (FCA). The official says that only five crypto firms had been registered as of May 24 after the FCA became the official AML supervisor in the U.K. in January 2020.