PSA for Australian bitcoiners with SMSFs.
The ATO published crypto audit guidance in October that says holding statements alone aren't sufficient evidence. Auditors must obtain "additional objective, supportable evidence." For exchange-held bitcoin, there's a path. For self-custody, there's nothing prescribed.
If your auditor can't verify your holdings, they must qualify your audit and report you for a Reg 8.02B breach. That's not optional.
ASIC took action against 28 SMSF auditors in H2 2025. The ATO is doing office visits. Reg 8.02B breaches are up to 12% of all SMSF breaches and rising. And from July, accountants become AUSTRAC reporting entities.
The government isn't coming for your keys. They're coming for your paperwork. And if the paperwork problem isn't solved, the next step is forcing SMSF holdings onto exchanges or approved custodians.
Don't give them the excuse.
I wrote up the full picture with primary sources:
I haven't read anyone comment on whether MJ Rathbun's PR actually had merit. Did it? Talking about the one that scottshambaugh rejected because it originated from a bot.
If you'd like a few ideas on where your path in bitcoin may lie, spend 2 minutes with Henro. After 10 questions, you will be presented with curated, inspiring resources in various formats.
I offended an open source maintainer with an @-mention on my PR. I got a stern response but his points were valid.
I got thinking on how AI tools are creating a new "Eternal September" for open source with more contributions, but more noise for volunteer maintainers who are already stretched thin.
What if AI could help their side too? Triage, first-pass review, quality gates, etc to protect volunteer time instead of just consuming it. A few already discussing this and putting it into practice.
My reflections:
SeedSigner doesn't support message signing for multisig keys — it throws "Not implemented" for any m/48' derivation path. I raised this as an issue two years ago, no fix came, so I patched it myself.
The change is small (21 lines) and the actual signing function already worked — it was just the path parser blocking multisig paths unnecessarily.
I use message signing for key ownership and control verification in multisig SMSF custody setups via Gatekeeper (https://gatekeeper.dpinkerton.com). Coldcard handles this fine, but SeedSigner users were stuck.
Blog post: