Accepting Crypto Deposits: The Section 46A Report
A buyer wants to pay a deposit in Bitcoin from their private wallet. Section 46A creates specific reporting obligations for crypto from self-hosted wallets.
The obligation: Section 46A
Self-Hosted Wallet Reporting
If you receive virtual assets from a "self-hosted wallet" (not held by a regulated exchange), you must file a specific report to AUSTRAC.
Data you must collect
- Wallet address - the blockchain address sending the funds
- Ownership proof - evidence the customer controls the wallet
- Transaction details - amount, date, purpose
- Customer identification - standard CDD still applies
Key Takeaway
Section 46A requires specific reporting when you receive crypto from self-hosted wallets. Collect wallet addresses and ownership proof before accepting virtual asset payments.
Read our complete Tranche 2 Guide
Key dates, affected sectors, obligations and how to prepare
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