Pascal Saint-Amans, director of the OECD's Centre for Tax Policy and Administration, has announced the organization plans to launch a common standard for cryptos.
In particular, the organization, which is made up of 37 countries, intends to issue a common standard for crypto tax reporting.
According to Law360, this new standard "would be roughly equivalent to the CRS" developed by the OECD to fight tax evasion.
Pascal reported that the organization has decided to develop a common framework with the aim of introducing stricter regulations on cryptocurrencies. In particular, he said:
"The timeline to deliver is probably '21, sometime in '21, because there is an appetite by all countries now."
This is not the only measure of its kind. Thus, just a few days ago the European Commission started a process to amend its regulations with the aim of extending the laws against crypto-related tax evasion.
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