Techub News reports that, according to Bloomberg, the Australian Taxation Office announced on Monday that it plans to complete a draft tax ruling in August regarding the capital gains tax assessment of "wrap" contracts for cryptocurrencies, clarifying the tax treatment of such asset exchanges. "Wrap" contracts are used to convert cryptocurrency assets into equivalent assets to be compatible with specific protocols. The guidance will explore the tax treatment when assets are sent to a contract and deemed to be abandoned, aiming to provide clear tax guidance for investors in such trading scenarios.