2021 Regulations & The Future of Tax Reporting for Crypto
How will the 2021 Regulation Changes Impact The Future of Crypto Tax Reporting?
Watch the Crypto Tax Reporting and Regulations Webcast hosted by TAINA featuring Raj Mukherjee (Coinbase), Teggy Altankhuyag (Coinfloor), Tom Howgate (Deloitte), Phillip Garlett (KPMG), Stevie Conlon (Wolters Kluwer) and moderated by Rasheed Khan (TAINA).
The panel discussed the current regulatory environment for crypto assets, the recent 2021 crypto regulation changes, and what regulatory oversight and review we are expecting to see in the future of tax information reporting of crypto assets.
New rules and regulations regarding crypto assets are expected to be released and published from the OECD and IRS in 2021. This will change crypto exchanges and crypto trading platforms, scope of their previous tax due diligence and reporting obligations possibly under the current FATCA and CRS regulations by as early as 2023. However this provides a blank slate opportunity to build more comprehensive and automated compliance systems to deal with the new crypto tax reporting and withholding requirements.
Disclaimer: The information being discussed is not to provide legal, tax or accounting advice. Any statement contained in this communication (including any attachments) on tax and regulatory matters is general in nature and not intended or written to be used, for the purpose of avoiding penalties imposed on the relevant taxpayer. The topics and discussions provided are the opinions of the participating individuals and not of their related firms We will focus our remark on the potential impacts to tax information reporting of Crypto Assets.
At TAINA we continue to monitor the crypto regulatory landscape. To find out more information on the recent crypto regulation changes watch the webcast below or , get in touch with us today.