The Organization for Economic Co-operation and Development (OECD) has released its new tax reporting framework, the Crypto-Asset Reporting Framework (CARF), according to a press release Monday.
The framework, which was approved in August, ensures "the collection and automatic exchange of information on transactions for relevant crypto," the report said. The definition of crypto assets "includes assets that can be held and transferred in a decentralised manner, without the intervention of traditional financial intermediaries, including stablecoins, derivatives issued in the form of a crypto-asset and certain non-fungible tokens," the report said.
Intermediaries and other service providers facilitating exchanges between relevant crypto assets, such as exchanges, brokers and ATM operators, will also be included in the scope.
"The current scope of assets, as well as the scope of obliged entities, covered by the Common Reporting Standard (current standards) do not provide tax...
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