Australia’s recent and controversial cryptocurrency taxation guidelines, released by the Australian Tax Office (ATO), are criticized by a law firm, Cadena Legal. The firm deems the guidance as unclear and non-binding, suggesting it should be treated as “toilet paper.” The guidance, issued on Nov. 9, potentially impacts how investors and traders in decentralized finance report their taxes. Cadena Legal contends that clear and binding public rulings are essential for effective taxation guidance.