CRS to be extended to crypto firms.

Crypto firms, including those based in Gibraltar, will imminently be subject to a Crypto Asset Reporting Framework very similar to the system applicable to banks (CRS and FATCA). 

My International Tax Bites podcast partner Harriet Brown, Old Square Tax Chambers, and I recorded this podcast last year. There have been some updates since but this is a great introduction to the rules. It covers:

• which entities will be in scope
• what assets will be reportable
• what will be reported on the individuals involved
• the timeline  for implementation.

We also held an in-depth webinar which can be viewed here.

If you are operating a crypto exchange, or believe you will be obliged to report under the Crypto Asset Reporting Regime, you should take notice. The full set of proposed rules can be found here (but it really is much more efficient to listen to the podcast / webinar and/or call us to have a chat).

Hassans has unrivalled expertise in training and advice around information exchange regimes like this. We can help you develop systems and training for your people.