G20 Leaders Agree to Start Sharing Crypto Transaction Data in 2027

G20 leaders signed a declaration to implement a crypto framework for annual information exchange on crypto transactions starting in 2027.
The Crypto Asset Reporting Framework was introduced by the OECD in 2022 to give tax authorities more visibility into crypto transactions.
Under the framework, countries will automatically exchange information on crypto transactions between jurisdictions each year.
The framework will cover unregulated crypto exchanges and wallet providers.
The European Union approved updated rules in May 2022 to adhere to the framework and share information on crypto transactions.

cointelegraph.com

Relevant topic timeline:

8/28/2023

Indian PM Modi calls for global cryptocurrency framework at G20 Summit

Indian Prime Minister Narendra Modi has called for global collaboration on formulating crypto regulations during the annual G20 summit, advocating for a comprehensive global framework for regulating cryptocurrencies despite India's own lack of regulatory clarity and high taxation.

9/1/2023

UK's Travel Rule comes into effect, could halt certain crypto transfers

Crypto asset businesses in the UK may begin withholding certain crypto transfers to comply with the new Travel Rule, which aims to prevent money laundering and terrorist financing activities carried out using cryptocurrencies.

9/5/2023

Global Standard Setters to Deliver Global Crypto Policy Roadmap

The Financial Stability Board and International Monetary Fund are releasing a joint paper at the G20 Summit that outlines a roadmap for global coordination and policy frameworks for cryptocurrencies.

9/7/2023

Key G20 policy paper calls for licensing of crypto services, money laundering standards on sector

A policy paper prepared under India's G20 Presidency recommends licensing crypto service providers and implementing anti-money laundering standards in the sector, while cautioning against an outright ban on cryptocurrencies due to their borderless nature. The paper also addresses concerns about stablecoins and their potential impact on financial stability.

9/8/2023

Coinbase Shifts Focus Abroad Amid Murky US Crypto Rules

Crypto exchange Coinbase plans to focus on non-U.S. markets, including the European Union, the United Kingdom, Canada, Brazil, Singapore, and Australia, due to their clearer crypto laws, as it seeks to expand its operations and establish partnerships with global and local banks and payment providers while ensuring compliance with governance systems. The company also aims to intensify its lobbying and visibility efforts ahead of the EU elections and engage with the G20 to create global crypto standards.

9/9/2023

G20 Leaders Endorse New Global Tax Rules and Crypto Asset Regulation

G20 leaders have agreed to implement global tax reforms encompassing digital economy taxation and a global minimum corporate tax rate, with significant progress already made on the first pillar and a Multilateral Convention (MLC) expected to be ready for signature in the second half of 2023. Additionally, the leaders called for the swift implementation of a Crypto-Asset Reporting Framework (CARF) and the regulation of crypto-assets activities and markets.

9/11/2023

G20 Summit Unlikely to Spur Major Crypto Crackdown Despite India's Push

The G20 summit in India is expected to deliver a group agreement on the need for stricter global regulation on crypto assets, but the underlying fractures and shifting allegiances may render the focus more noise than substance.

9/11/2023

G20 Agrees to Give Tax Authorities More Oversight of Crypto Transactions to Combat Tax Evasion

The leaders of the G20 nations have agreed to provide global tax authorities with more transparency on cryptocurrency transactions, indicating a growing global cooperation on cryptocurrency, even though implementation may take several years.

9/20/2023

Crypto's Potential to Become New Asset Class Requires Fresh Perspectives

Crypto is poised to create a new investable asset class globally and will revolutionize the internet, requiring new business models, metrics, and research structures, as well as a framework to analyze value flows within the tech stack, particularly in relation to Ethereum's layer 2 solutions.

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Posted 9/9/2023, 5:10:11 PM

G20 Leaders Agree to Start Sharing Crypto Transaction Data in 2027

G20 leaders signed a declaration to implement a crypto framework for annual information exchange on crypto transactions starting in 2027.
The Crypto Asset Reporting Framework was introduced by the OECD in 2022 to give tax authorities more visibility into crypto transactions.
Under the framework, countries will automatically exchange information on crypto transactions between jurisdictions each year.
The framework will cover unregulated crypto exchanges and wallet providers.
The European Union approved updated rules in May 2022 to adhere to the framework and share information on crypto transactions.

cointelegraph.com

Relevant topic timeline:

8/28/2023

Indian PM Modi calls for global cryptocurrency framework at G20 Summit

9/1/2023

UK's Travel Rule comes into effect, could halt certain crypto transfers

9/5/2023

Global Standard Setters to Deliver Global Crypto Policy Roadmap

The Financial Stability Board and International Monetary Fund are releasing a joint paper at the G20 Summit that outlines a roadmap for global coordination and policy frameworks for cryptocurrencies.

9/7/2023

Key G20 policy paper calls for licensing of crypto services, money laundering standards on sector

9/8/2023

Coinbase Shifts Focus Abroad Amid Murky US Crypto Rules

9/9/2023

G20 Leaders Endorse New Global Tax Rules and Crypto Asset Regulation

9/11/2023

G20 Summit Unlikely to Spur Major Crypto Crackdown Despite India's Push

9/11/2023

G20 Agrees to Give Tax Authorities More Oversight of Crypto Transactions to Combat Tax Evasion

9/20/2023

Crypto's Potential to Become New Asset Class Requires Fresh Perspectives