Self-Managed Super Fund (SMSF) FAQ
Important Notice
Running a Self-Managed Super Fund (SMSF) involves specific legal, tax, and compliance responsibilities. OKX Australia is registered with AUSTRAC as a Digital Currency Exchange (DCE), which enables us to offer crypto spot trading services within Australia. We comply with all relevant anti-money laundering and counter-terrorism financing (AML/CTF) obligations under Australian law.
Please note that OKX isn't licensed to provide financial or legal advice. We recommend consulting a licensed professional for personalised guidance regarding your SMSF or investment decisions.
Crypto & SMSFs
1. Can I use my personal crypto account for SMSF investing?
We're not able to provide advice on how SMSF assets should be held or whether your account setup complies with superannuation law. We recommend speaking with your accountant or SMSF adviser to ensure your exchange account is structured correctly for your fund.
2. How do I ensure crypto is held in the name of the SMSF?
At OKX, eligible users can open a crypto trading account specifically designated for SMSF use. During onboarding, we'll ask for details about your SMSF's name, trustee structure, and documentation. Once approved, any wallets and transactions under that account are recorded in the name of the SMSF entity you've provided.
To ensure your setup complies with superannuation law, we recommend speaking with an SMSF adviser or auditor.
3. Is crypto staking, yield farming, or DeFi allowed?
These activities can be complex and high-risk, and whether they're permitted depends on your fund's structure, legal obligations, and investment strategy. We recommend speaking with an SMSF specialist or checking with the ATO before proceeding with any DeFi-related investments through your fund.
4. Can I transfer personal crypto into my SMSF?
Under superannuation law, SMSFs are generally not allowed to acquire assets from related parties, including personal crypto held by a member. There may be very limited exceptions, but we're not able to advise on whether these apply in your situation. We strongly recommend speaking with an SMSF accountant or adviser before attempting any crypto transfer into your fund. This is general information only and not legal or financial advice.
5. How should crypto be valued in an SMSF?
We're not able to provide advice on how to value crypto for SMSF purposes. The ATO has specific requirements around asset valuation, and it's important that trustees follow those when preparing annual returns and audit documentation. We recommend speaking with your SMSF accountant or auditor to ensure valuations meet compliance standards.
6. What records should I keep?
We're not able to advise on what records are required for SMSF crypto transactions, as this depends on your fund's structure and reporting obligations. To ensure your SMSF meets ATO and audit requirements, it's best to speak with a licensed SMSF accountant or adviser.
That said, you can export your full transaction history through your OKX account. These reports include timestamps, asset types, and transaction amounts to assist your accountant or administrator.
7. Does OKX offer separate wallets for SMSFs?
Yes, OKX offers SMSF-designated accounts that are set up separately from personal accounts. Wallets associated with SMSF accounts are tagged and recorded in the name of the SMSF, based on the information provided during onboarding.
While we provide this structure to help SMSF users track and separate their assets, we recommend speaking with your SMSF adviser or accountant to ensure it meets your compliance requirements.
8. Will OKX provide reports suitable for SMSF audit and tax?
Our platform generates downloadable reports designed to support annual lodgement and compliance reviews. That said, we recommend confirming with your SMSF accountant or auditor to make sure our reports meet your fund's specific reporting requirements. This is general information only and not financial or legal advice.
9. Can multiple trustees use the same OKX account?
Each OKX SMSF account is designed to be used under a single login. If your SMSF has multiple members or trustees, we recommend nominating one authorised user to operate the account, and maintaining any necessary internal records for your fund's compliance. Please speak with your SMSF adviser or administrator to ensure this setup meets your obligations.
This is general information only and not legal or financial advice.
Reports, Fees & Tools
1. Does OKX provide Proof-of-Reserves?
Yes. Our Proof-of-Reserves is updated monthly and covers 22 highly traded assets.
More available information here:
2. What reports can I share with my auditor?
You can download your complete trade, deposit, and withdrawal history from OKX in CSV, PDF, or via API.An SMSF account follows the standard maker/taker schedule for customers. You can learn more
.3. How can accounts trade more safely going forward?
To enhance the security of your account and crypto assets, we recommend the following best practices:
Strengthen Account Security
Enable multi-factor authentication (MFA) for all trustee logins.
Use IP whitelisting and withdrawal address whitelisting to restrict unauthorized access.
Use Secure Wallets for Storage
Store long-term holdings in a dedicated hardware wallet.
Keep only essential working capital on exchanges.
Protect Credentials and Access
Provide view-only API keys to accountants or advisors.
Never share login or trading credentials.
Implement a Risk-Control Strategy
Define rules for position sizing, exchange diversification, and cold storage thresholds.
Regularly review and update your investment strategy to address crypto-specific risks.
Conduct Regular Security Reviews
Schedule quarterly security audits to assess:
Device and network security
Phishing awareness and prevention
User access and permission levels
Following these steps will significantly reduce the risk of unauthorized access and help ensure safe and compliant crypto trading operations.
Want to learn more about opening an SMSF account? Check out more info here: