Why should crypto exchanges care about these regulations?
The OECD has ruled that crypto assets are now within the scope of the CRS and the IRS are expected to release their own guidance for FATCA in 2021. This means crypto exchanges will need to perform due diligence on their accounts, certify customers, collect documentation, and meet reporting obligations.
Whilst the exact timing remains to be confirmed, there is no doubt that the time has come to prepare for compliance. Download a short article on the practical implications of these rules for crypto exchanges here.
A new regulatory obligation is always a challenge, but with TAINA’s robust and automated FATCA and CRS solution you can meet the certification requirements and transform regulatory compliance into a competitive advantage for your business whilst still focusing on business growth. Reach out to us today to discuss how these new rules will impact you and how we can help firstname.lastname@example.org.
Get a preview of the new TAINA brand identity and new TAINA website coming soon.
Enabling superior client experience and client relationship management, reducing back office burden
and robust audit protection.