I am the trustee for an individual SMSF and it has recently come to my attention that Monero (the cryptocurrency) is no longer legally allowed to be traded on Australian cryptocurrency exchanges. This I think has to do with KYC regulations.
My SMSF holds a small amount of Monero, and did not sell the asset before the deadline for trading ended in August, and as such, there is no place I can legally sell this Monero in Australia that is SMSF audit compliant.
How would I go about remedying this situation? Would I call this a write-off and deduct it as a negative capital event when performing my SMSF tax return?