Blockchain, Cryptocurrency, Initial Coin Offerings & Security Token Offerings

Blockchain is a decentralised, distributed ledger that is used to record transactions made from many computers and that stops records being altered retroactively without all subsequent blocks being altered.

One of the driving forces behind blockchain is globalisation. Consumers, businesses and governments expect fast, reliable and secure ways of storing and transferring critically important data – including data relating to cryptocurrency, banking and finance, education, government and more.

Bitcoin, and more than 1,000 other cryptocurrencies, are enabled by blockchain. So too are the increasingly emerging ‘initial coin offerings’ (ICOs) and ‘security token offerings’ (STOs).

The digital landscape is changing quickly. By considering commercial, tax (including the GST treatment of digital currency) and regulatory issues, our team looks at the big picture to advise on blockchain, cryptocurrency, ICOs and STOs opportunities.

Our involvement

YBF Melbourne Web 3.0 Panel: The Promise of Distributed Technologies
Startup Victoria Fireside Chat: The Future of Work
Smart Cities Blockchain Hackathon
Westpac BlockHack 16
Preparing submissions to Treasury for consultation on legislative developments that address GST treatment of digital currency
Hall & Wilcox Interview with Crypto News Australia
Introduction to Security Tokens - BlockheadsTV Ep22
Blockchain centre - John and Karen
Hall & Wilcox Interview with Crypto News Australia


Financial services

  • Advising on and establishing, cryptocurrency funds
  • Reviewing and signing off on whitepapers and accompanying disclosure documents
  • Advice on operating digital currency exchanges, including the new Anti-Money Laundering and Counter Terrorism Financing registration requirements for operators of exchanges
  • Advice on whether a cryptocurrency or digital token is a financial product  (which requires compliance with licensing and disclosure requirements) or whether the token environment constitutes the operation of a non-cash payment facility
  • Advice on how to restructure an ICO so that it is not a managed investment scheme
  • Advice on the legal implications of conducting a security token offering (STO)



  • Advising on the GST implications of trading cryptocurrency through online platforms
  • Reviewing business-to-business as well as business-to-consumer onshore and offshore transactions where consideration comprises of cryptocurrency
  • Advising operators of electronic distribution platforms (websites, mobile phone applications, gaming platforms and other marketplaces) of the GST implications and compliance obligations


Litigation and dispute resolution

  • Advising in relation to a dispute pertaining to a subscription in an ICO
  • Advising in relation to jurisdictional and enforcement issues pertaining to the rights of a cryptocurrency owner



Hall & Wilcox Cryptocurrency & Blockchain Tax team regularly advises on:

  • the Australian tax treatment of cryptocurrency dealings by individuals (Australian resident and foreign resident)
  • structuring opportunities for various cryptocurrency dealings
  • domestic and international exchanges and cryptocurrency investment funds
  • negotiating private binding rulings requests on behalf of taxpayers.

The team has most recently provided submissions to Treasury and the OECD, and participated in Treasury’s roundtables, regarding the regulation of ICOs and tokens, and taxation of the digital economy. In addition, the team has significant experience with tax disputes and controversy generally, with a close working relationship with the Hall & Wilcox Dispute Resolution team.

Each of the following are actively involved in current cryptocurrency and blockchain matters:
Anthony BradicaMichael ParkerJim Koutsokostas, Adam Dimac and Todd Bromwich.

Key contact

John has broad experience in financial services, funds management, blockchain, corporate and corporate law.

Related thinking

Blockchain, Cryptocurrency, Initial Coin Offerings & Security Token Offerings| 23 Jun 2022

Crypto assets are not foreign currency for tax purposes, Government clarifies

The Federal Government has announced plans to clarify that crypto assets will not be regarded as a foreign currency for tax purposes.

Blockchain, Cryptocurrency, Initial Coin Offerings & Security Token Offerings| 27 Apr 2022

Dear crypto-assets… APRA’s expectations and the policy roadmap ahead

APRA has published an open letter: ‘Crypto-assets: Risk management expectations and policy roadmap’ to all APRA-regulated entities.

Blockchain, Cryptocurrency, Initial Coin Offerings & Security Token Offerings| 29 Mar 2022

IOSCO warns of hidden risks in DeFi and questions ‘decentralisation’

The International Organisation of Securities Commissions (IOSCO) has reviewed the quickly evolving DeFi market and warned of a dozen risks facing investors and other DeFi participants.

Blockchain, Cryptocurrency, Initial Coin Offerings & Security Token Offerings| 22 Mar 2022

Crypto-asset secondary service providers: licensing and custody requirements

We explain what you need to know about the Federal Government’s approach to the introduction of a regulatory and licensing regime for crypto-asset secondary service providers.