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International Crypto Tax Regulation Proposal Clears First Hurdle

July 21, 2022, 4:11 PM

A cryptocurrency asset regulatory framework that could become the standard for taxing crypto across G20 nations won approval in a technical working party last week, a senior OECD official said Thursday.

The Organization for Economic Cooperation and Development member countries including the US and UK say existing financial regulatory schemes are insufficient for most cryptocurrency assets.

  • The OECD’s Working Party 10, which focuses on exchange of information and tax compliance, passed the draft cryptocurrency asset regulatory framework and an amendment to the Common Reporting Standard at its last meeting, said Achim Pross, head of the International Cooperation and Tax Administration ...