OECD reveals its new Crypto-asset Reporting Framework

OECD Europe crypto cryptocurrency OECD reveals its new Crypto-asset Reporting Framework

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As cryptocurrencies experience rapid adoption around the world, their ability to be transferred and held without the need for traditional financial intermediaries, such as banks, has led to the rise of new intermediaries like crypto exchanges and wallet providers, many of which remain unregulated. To ensure transparency for crypto-asset transactions, the CARF requires that all such information be automatically exchanged with the jurisdictions of residence of taxpayers on an annual basis, in a standardized manner similar to the CRS.

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