Regulatory Round Up: Year in Review & a Look Ahead
2023 Year in Review and a Look Ahead at 2024
Monitoring regulatory changes is crucial to ensure compliance with evolving laws, regulations, and guidelines that govern the financial industry. Regulatory bodies are continuously update and refine their frameworks.
By monitoring regulatory changes, TAINA can stay ahead of the curve, help our clients adapt their operations, and maintain a competitive advantage. TAINA has prioritized regulatory monitoring to maintain cutting edge technology.
Looking back at 2023, we saw a lot of regulatory changes impacting TAINA platform and our clients including;
- IRS release new forms and instructions
- IRS proposed regulations for Digital Asset information reporting
- US Tax Treaty changes
- Amendments to CRS - CARF and CRS 2.0 overlap
- 48 jurisdictions commit to implement the CARF by 2027
The number of regulatory reporting updates are growing, pair this with the fact that tax authorities are becoming increasingly more aggressive on enforcement.
By gathering this information and consulting with Big Four accounting firm, TAINA demonstrate a commitment to regulatory compliance and regulatory oversight whilst ensureing the TAINA’s platform is programed accurately.
At TAINA we continue to monitor the IRW regulatory landscape. To find out more information on the recent regulatory reporting updates fill in the form to download the whitepaper below or, get in touch with us today.