2018-8-30 00:00 |
OECD plans to host an international conference on blockchain technology next month.
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New Zealand-based crypto-asset service providers will have to collect information on users' transactions starting April 1, 2026.
The Crypto-Asset Reporting Framework is the new international standard for the automatic exchange of information between tax authorities.
Laws set to be agreed next week would require crypto companies to register with tax authorities, even if they’re based outside the bloc or offering non-fungible tokens.
Officials are optimistic finance ministers will formally agree on laws allowing the sharing of information on crypto and NFT holdings between tax authorities next week.
Crypto tax standards in the upcoming year may prove to be a trying time for the industry. Global tax regulators are applying more pressure on centralized and decentralized exchanges. This could even affect your own personal crypto holdings.
The OECD is concerned about the increasing ties between crypto and traditional finance.
Crypto tax may soon see its own version of the Common Reporting Standard (CRS) as the Organisation for Economic Co-operation and Development (OECD) is reportedly working on a unified approach to handling virtual currency taxation.