The Organisation for Economic Cooperation and Development (OECD) analyzed the crypto winter in a new policy paper titled “Lessons from the crypto winter: DeFi versus CeFi” released Dec. 14. The authors examined the impact of the crypto winter on retail investors and the role of “financial engineering” in the industry’s current problems and found a lot not to like. The paper from the OECD, an intergovernmental body with 38 member states dedicated to economic progress and world trade, concentrated on events in the first three quarter of 2022, and placed the blame for them squarely on a lack of safeguard …

The Organisation for Economic Cooperation and Development, or OECD, has suggested additional requirements on reporting crypto transactions and identifying users aimed at increasing transparency for global tax authorities. In a public consultation document released on Tuesday, the OECD opened for public comment a proposal that would require crypto service providers to better identify users and report on certain transactions. The organization said that under current reporting requirements, tax authorities do not have “adequate visibility” for transactions dealing with crypto assets. According to the OECD, the crypto market posed a “significant risk” around tax transparency, claiming that any gains will eventually …

In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain. Since 2013, the Organization for Economic Cooperation and Development, or OECD, has been discussing the base erosion and profit shifting (BEPS) risks of large multinational enterprises (MNEs) — risks arising from the digitalization of the global economy. BEPS 2.0 reports came out in 2018 and 2019, aiming to ensure a fairer distribution of the rights to tax the profits of large MNEs, …

Pascal Saint-Amans, the director of the OECD’s Centre for Tax Policy and Administration, has asserted that the 37-nation organization will introduce a common reporting standard, or CRS, for crypto assets in 2021. According to Law360, Amans stated that the crypto tax standard “would be roughly equivalent to the CRS” developed by the Organisation for Economic Co-operation and Development to combat tax evasion. The director attributed the likely development of the crypto tax CRS to a desire to introduce stronger standards surrounding crypto regulations among its member-countries: “The timeline to deliver is probably ’21, sometime in ’21, because there is an …

The World Economic Forum, or WEF, believes that blockchain represents a core element of sustainable digital finance — a new paradigm that combines emerging technology with environmentally conscious business models. In a new report published Wednesday, UBS executive Karin Oertli lists blockchain technology along with artificial intelligence, mobile platforms and the Internet of Things as being the cornerstones of digital finance. These technologies, when combined with environmental, social and governance frameworks, could help governments and corporations reach their lofty sustainable development goals. Oertli writes: “We believe that sustainable digital finance will play an essential role in efficiently channeling this capital …

A study of cryptocurrency taxation regimes from around the world by the Organization for Economic Co-operation and Development, or OECD, found that global crypto taxation laws are highly inconsistent. Source: OECD Report. The way crypto assets are defined vary greatly by jurisdiction. Cryptocurrency is most commonly defined as a “financial instrument or asset”, followed by a “commodity or virtual commodity." In the U.S., the asset class remains mostly undefined for tax purposes. Source: OECD Report. The same inconsistency is observed when it comes to determining the first taxable event for mined cryptocurrency assets. The most common approach here is to …

The Organization for Economic Cooperation and Development, or OECD, reported on Tuesday how automatic reporting in 2019 helped uncover $11 trillion worth of assets in offshore accounts. The result came as the Common Reporting Standard, or CRS, entered its third year of operation since its launch in 2017. Unlike many previous iterations of international tax reporting standards, the CRS requires countries to automatically report activity in accounts held by foreign nationals to their respective country of origin. This solves issues deriving from request-based information sharing, which required active suspicion and investigation from the originating country. This is supported by over …

According to NASA, the World Meteorological Organization and the National Oceanic and Atmospheric Administration, a scientific agency within the United States Department of Commerce, the last 10 years leading up to the end of 2019, as well as the last winter, has been confirmed as the warmest decade on record. Yet, nature produced another warning for humanity in Australia with the severe 2019–2020 bushfire season that led to the burning of 21% of the country’s forested area. With the devastating coronavirus pandemic spreading across the globe and disrupting the way we live our lives, this gives us an indication of …

The Organisation for Economic Cooperation and Development (OECD) has stated that global regulators should work together to facilitate the development of initial coin offerings (ICOs), according to a report released Jan. 15. The document calls for regulatory clarity and a supervisory framework for ICOs, defining such moves as “a stepping stone to their safer use for financing purposes.” The report also underlines the importance of standardized disclosure requirements, enhanced investor protection Anti-Money Laundering (AML) and Counter Terrorist Financing (CFT) measures. A separate document dedicated to the highlights of the report states: “A delicate balance will need to be achieved in …

For several years now, the Organization for Economic Co-operation and Development (OECD) has been cautiously enthusiastic about blockchain technology. Beginning with a 2014 working paper titled, "The Bitcoin Question" the intergovernmental organization has been considering the economic possibilities opened up by distributed ledgers and cryptocurrencies — and, on the whole, it has found these possibilities exciting, even if such working papers "do not necessarily reflect the official views of the Organization or of the governments of its member countries." But for the most part, reports on "Blockchain Technology and Competition Policy" and "Corporate Governance" — among other subjects — have …

The Organisation for Economic Co-operation and Development (OECD) has officially announced a Blockchain Policy Forum in a release on the OECD website August 28. The OECD states that the event will be held in Paris September 4-5 and will mark the first major international event of its kind, dedicated to blockchain technology. Organizers plan to focus on the use of blockchain tech in government activities and public initiatives as well as regulatory aspects. The Blockchain Policy Forum also plans to discussing the technology’s potential global economic impact, privacy and cybersecurity, inclusiveness, the promotion of green growth and sustainability, and governance …

On October 26, 2015, The Organization for Economic Co-operation and Development (OECD), an organization “created as an economic counterpart to NATO,” held a hearing on disruptive innovation in the financial sector. An unclassified document published as an “Issues Paper” entitled “Refining Regulation To Enable Major Innovations In Financial Market” was prepared by Dr. Sean Ennis, a Senior Economist in the OECD's Competition Division on behalf of the Secretariat (for the 60th meeting of Working Party No. 2) was obtained by Cointelegraph. The topics discussed were peer-to-peer lending, crowdfunding of equity, virtual currencies and innovative payment/currency exchange solutions. The report notes …