OECD releases Consultation document: Crypto-Asset Reporting Framework and Amendments to the Common Reporting Standard

Executive summary

On 22 March 2022, the Organisation for Economic Co-operation and Development (OECD) published a Public Consultation Document which proposes new and amended reporting requirements covering reporting of crypto-assets and e-money as well as containing broader revisions to the existing Common Reporting Standard (CRS).

The consultation contains two main proposals:

1. Introduction of a Crypto-Asset Reporting Framework (CARF) that would bring cryptocurrency and other crypto-assets into scop…