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Crypto tax reporting quickly increases globally

Accounting firm PwC has seen rising tax regulation of the digital assets sector since 2020, despite noticeable tax policy and guidance differences between jurisdictions. This is mainly driven by the new Crypto Asset Reporting Framework and amendments to the Common Reporting Standard unveiled by the Organization for Economic Co-operation and Development in October. PwC also expects the impact of FTX's bankruptcy to remain in 2023 as it hits valuations and dampens investor interest. Meanwhile, Goldman Sachs plans to spend tens of millions of dollars to buy or invest in crypto firms. Meanwhile, the US Federal Trade Commission is probing several crypto firms over allegations their advertisements were deceptive or misleading.

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