What are the reporting requirements for cryptocurrency exchanges under the Common Reporting Standard (CRS) from OECD?

3 answers

• Nov 25, 2021 · 3 years ago
  As per the Common Reporting Standard (CRS) from OECD, cryptocurrency exchanges are required to report certain information to tax authorities. This includes details of the account holders, such as their name, address, tax identification number, and account balance. The purpose of these reporting requirements is to prevent tax evasion and ensure transparency in the cryptocurrency industry. The information reported by cryptocurrency exchanges is shared with tax authorities of participating countries.
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• Nov 25, 2021 · 3 years ago
  Under the Common Reporting Standard (CRS) from OECD, cryptocurrency exchanges are obligated to report information about their customers to tax authorities. This information includes the customer's name, address, tax identification number, and account balance. The reporting is done to ensure compliance with tax regulations and prevent money laundering and other illegal activities. The information reported by cryptocurrency exchanges is shared among participating countries to facilitate cross-border tax enforcement.
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• Nov 25, 2021 · 3 years ago
  At BYDFi, we take the reporting requirements under the Common Reporting Standard (CRS) from OECD seriously. As a cryptocurrency exchange, we comply with the regulations and report the necessary information to tax authorities. This includes details of our customers, such as their name, address, tax identification number, and account balance. We believe in maintaining transparency and contributing to the fight against tax evasion and illicit activities in the cryptocurrency industry.
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