Treasury to Implement OECD Led Crypto Reporting Rule Domestically

The Treasury will “start the process” of implementing an OECD-led cryptocurrency-asset reporting framework, or CARF, in the US in preparation for greater participation internationally, a department official said Thursday.

“We are going to start the process of implementing cards domestically, so that the IRS has the information that it can exchange with other countries,” said Erika Nijenhuis, senior counsel at the Treasury’s Office of Tax Policy. She was speaking at the International Fiscal Association’s annual conference in Chicago.

• The OECD’s reporting framework standardizes how tax authorities regulate and share crypto asset information in order to increase transparency. The ...