South Africa is the only African country to join the group of countries that have agreed to implement the Crypto-Asset Reporting Framework. According to the South African Revenue Collector, the reporting framework is expected to improve its “ability to ensure tax compliance and clamp down on tax evasion.” Tax Transparency Standard South Africa has joined…
Read more
A deep dive into global employment data and trends indicates that AI could impact high-skilled jobs the most. An employment outlook paper suggests that highly skilled professions are the most exposed to artificial intelligence, but its potential impact on employment is yet to be seen. The Organisation for Economic Co-operation and Development (OECD) has released…
Read more
The Organisation for Economic Co-operation and Development (OECD), an intergovernmental organization that seeks to stimulate economic progress, has published a global framework for crypto tax reporting. According to a press release, the framework, dubbed the Crypto-Asset Reporting Framework (CARF), was approved in August and ensures “the collection and automatic exchange of information on transactions for relevant…
Read more
India’s finance minister has called on the G20 countries to bring crypto within the “Automatic Exchange of Information” framework. More than 100 countries have adopted the Common Reporting Standard under the framework. G20 Urged to Bring Crypto Under Automatic Exchange of Information India’s finance minister, Nirmala Sitharaman, talked about cryptocurrency Friday during the G20 Ministerial…
Read more
A new report has concluded that restrictions on cryptocurrency trading, as well as the banning of Twitter by Nigerian authorities, may have “crippled foreign direct investment in the fintech industry.” Foreign Direct Investment ‘Crippled’ A new report has found that restrictions imposed by Nigerian authorities on crypto trading may have contributed to the reduced foreign…
Read more
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________ ____(Updated at 19:50 UTC with the announcement from FIFA.)… Read More: Florida’s Crypto Plan, Crypto.com Scores World Cup, Grayscale’s Ex-Ethereum Fund + More News Read more »Pay, Trade, Buy Bitcoin with…
Read more
The director of the OECD’s tax center has revealed that the organization expects to release a tax reporting standard for crypto assets by the end of next year. Pascal Saint-Amans, the director of the OECD’s Centre for Tax Policy and Administration, has asserted that the 37-nation organization will introduce a common reporting standard, or CRS,…
Read more
A new WEF report touts blockchain technology as a cornerstone of environmental sustainability. The World Economic Forum, or WEF, believes that blockchain represents a core element of sustainable digital finance — a new paradigm that combines emerging technology with environmentally conscious business models. In a new report published Wednesday, UBS executive Karin Oertli lists blockchain…
Read more
The report suggests giving preferential tax treatment to PoS over PoW-based crypto assets. A study of cryptocurrency taxation regimes from around the world by the Organization for Economic Co-operation and Development, or OECD, found that global crypto taxation laws are highly inconsistent. Source: OECD Report. The way crypto assets are defined vary greatly by jurisdiction.…
Read more
The three-year old Common Reporting Standard is uncovering offshore assets on a massive scale, highlighting cryptocurrencies as a potential alternative. The Organization for Economic Cooperation and Development, or OECD, reported on Tuesday how automatic reporting in 2019 helped uncover $11 trillion worth of assets in offshore accounts. The result came as the Common Reporting Standard,…
Read more
