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Align Crypto Tax Framework to Current Rules, Groups Tell OECD

May 2, 2022, 8:24 PM

The OECD’s tax reporting framework for crypto assets should stick closely to existing reporting rules and provide more clarity on regulating crypto exchanges and other intermediaries, major players including Coinbase Global Inc. and the Blockchain Association said.

The Organization for Economic Cooperation and Development released public comments Monday on its proposed Crypto-Asset Reporting Framework and Amendments to the Common Reporting Standard—a push to unify tax reporting rules globally.

The framework should align with other cryptocurrency tax regulations currently under development as well as existing rules requiring companies to provide transaction information to tax authorities, many groups said.

“We believe that ...