ChainCatcher news, the Organization for Economic Co-operation and Development (OECD) report analyzes the reasons why tokenization has not become more widespread. It points out that although tokenization brings efficiency improvements, securities settlement enhancements, and innovation opportunities, it faces numerous challenges.The report mentions that the lack of a sufficient investor base is a major obstacle, leading to insufficient liquidity, which makes issuers cautious about tokenization. The issuance of sovereign bonds can help promote the development of tokenization, as seen in the case of Slovenia.At the same time, the OECD emphasizes that quasi-sovereign issuers, such as the World Bank and the European Investment Bank, are more active, but liquidity issues are often resolved through integration with traditional systems, which also undermines the potential advantages of tokenization.Another challenge is the "chicken or egg" problem of network effects; when network effects have not yet manifested, it is difficult to prove the value of investments. Additionally, many institutions face technical debt and lack the funds to upgrade to distributed ledger technology (DLT).

ChainCatcher news, the Hong Kong government recently announced that it has committed to implementing a crypto asset reporting framework (reporting framework) to enhance international tax transparency and combat cross-border tax evasion, as stated to the OECD Global Forum on Tax Transparency and Exchange of Information.In light of the rapid development of the crypto asset market, the OECD published the reporting framework in June 2023 to ensure the maintenance of global tax transparency. As an extension of the existing "Common Reporting Standard for Automatic Exchange of Financial Account Information on Tax Matters," the reporting framework establishes a similar mechanism for users or controllers of crypto assets to automatically exchange tax-related information on crypto asset accounts and transactions with the tax jurisdiction of their tax residents each year.To ensure the fair and effective global implementation of the reporting framework, the Global Forum has invited all relevant crypto asset industries and tax jurisdictions identified as directly related to the reporting framework (including Hong Kong) to implement the reporting framework.Hong Kong has committed to implementing the reporting framework with suitable partners on a reciprocal basis, with those partners required to meet standards for data confidentiality and security. Considering the latest timeline established by the Global Forum, the government plans to complete the necessary local legislative amendments by 2026 or earlier, and to begin the first automatic exchange of information under the reporting framework with relevant tax jurisdictions starting in 2028.

ChainCatcher news, the South Korean Ministry of Economy and Finance announced that at the 17th Global Forum of the Organisation for Economic Co-operation and Development (OECD), the Multilateral Competent Authority Agreement on the Crypto-Asset Reporting Framework (CARF MCAA) was officially signed.The CARF MCAA is an institution established by the OECD in 2009, aimed at implementing standards for international tax transparency and the exchange of tax information. A total of 48 countries, including South Korea, Germany, Japan, and France, participated in this agreement. The signatory countries will exchange information on crypto-asset transactions based on the automatic information exchange framework for crypto-assets jointly developed by the OECD and the G20.According to the agreement, the exchange of information between countries will be implemented through separate negotiations among the signatory countries. The Ministry of Economy and Finance plans to amend relevant domestic laws starting in 2027 to facilitate the exchange of information on crypto-asset transactions and promote individual agreements.A relevant official from the Ministry of Economy and Finance stated, "Through this agreement, detailed information on crypto-asset transactions can be obtained, which will help enhance the transparency of the tax base related to crypto-asset income."

ChainCatcher news, according to Bitcoin.com, the Australian Treasury has invited the public to provide feedback on the implementation of the OECD's Crypto Asset Reporting Framework (CARF).In a consultation paper released on November 21, the Treasury stated that implementing the CARF developed by the OECD would "complement the government's efforts to enhance tax transparency." The document will explore the policy advantages of incorporating the OECD model into domestic tax law and consider a timeline for implementation that can minimize compliance costs.It is claimed that the rapid growth of the cryptocurrency market has posed challenges for the government in terms of tax evasion and avoidance. To address this issue, the OECD developed the CARF, aimed at improving international tax transparency by ensuring that crypto-related information is reported in a standardized manner. The framework is expected to enhance the ability of OECD countries to monitor and tax crypto-related activities, thereby reducing opportunities for tax evasion and avoidance.The CARF will require crypto intermediaries, such as exchanges and wallet providers, to report specific crypto transactions to tax authorities. This includes information on the buying and selling of crypto assets. As explained in the consultation paper, Australia expects CARF reporting to begin sometime in 2026.

ChainCatcher news, New Zealand's Minister of Revenue has proposed legislation to implement the OECD cryptocurrency asset information exchange framework, with the proposed amendments expected to take effect in April 2026. New Zealand cryptocurrency service providers are required to collect transaction information and submit it to the tax authority by 2027, or face a penalty of $300 for each violation, while users who do not provide information will be fined $1,000.

ChainCatcher news, the Organisation for Economic Co-operation and Development (OECD) has released a new report analyzing the events and impacts of Terra, Celsius, Three Arrows Capital, FTX, and others. The report states that while the current bankruptcies of crypto companies have little impact on traditional finance, the increasing connection between the two could lead to broader financial instability in the event of the next crypto crash.To this end, the OECD emphasizes the "urgent need for action," particularly to protect retail investors. It calls for international cooperation on cryptocurrency policy to avoid regulatory arbitrage opportunities. (Source link)

ChainCatcher news, the Organisation for Economic Co-operation and Development (OECD) has released a framework for crypto tax reporting, which allows for the automatic sharing of taxpayer information related to cryptocurrencies between jurisdictions, formalizing information sharing among 38 member countries. The aim is to enhance regular information sharing between countries to reduce tax evasion involving digital assets. In addition to information sharing between countries, the framework also includes model rules for domestic taxation of digital assets. The framework will be officially announced at the G20 central bank governors and finance ministers meeting in Washington, D.C. this week. (source link)