OECD Releases Final Cryptocurrency Asset Reporting Framework

The OECD released a framework Monday aimed at unifying global cryptocurrency tax reporting.

The proposal is designed to standardize the information gathered on cryptocurrency transactions and shared by global tax authorities. The OECD will present the Crypto-Asset Reporting Framework—which includes model technical rules and a commentary to encourage adoption by national legislatures—at a meeting of Group of 20 finance ministers and central bank governors Oct. 12-13 in Washington.

  • Existing financial regulatory schemes are insufficient for most cryptocurrency assets, OECD member countries say. The organization hopes G-20 nations will adopt the model technical rules to help reduce illicit activity and tax …