India's finance minister has called on the G20 countries to bring crypto within the 'Automatic Exchange of Information' framework. cryptocurrency bitcoin $BTC
India Calls on G20 to Bring Crypto Within Global 'Automatic Exchange of Information' Framework
Noting that “tax transparency” is an area where “considerable progress has been made with the Automatic Exchange of Information in respect of financial accounts,” she described: “Our investigations have shown that numerous layers of entities are often set up by tax evaders to conceal their unaccounted assets.”
While the development of the crypto asset reporting framework is underway, I call upon the G20 to examine the feasibility of an Automatic Exchange of Information in respect of other non-financial assets beyond those covered under the CRS like immovable properties as well. The CRS calls on jurisdictions to obtain information from their financial institutions and automatically exchange that information with other jurisdictions on an annual basis, the OECD described.The Indian finance minister continued: “Over 100 countries have committed to exchanging financial account information under the Common Reporting Standards.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Planting of summer crops ramps up in India as monsoon revivesAmple monsoon rain in the first half of July accelerated planting of main summer-sown crops such as soybean, cotton and pulses in India, although rice planting is still lagging behind due to scant rainfall in northern states.
Read more »
Spanish Crypto Exchange Bitbase Expands to Latam – Exchanges Bitcoin NewsPer reports from the company, the next country on the growth roadmap will be Venezuela, where Bitbase aims to establish a similar crypto store to the one launched in Paraguay.
Read more »
Spanish Crypto Exchange Bit2me to Rescue 2gether Customers After Account Block – Exchanges Bitcoin NewsBit2me, a Spanish cryptocurrency exchange, announced its intention of absorbing customers whose accounts were blocked by 2gether, another Spanish cryptocurrency exchange.
Read more »
Russia Considers Jail Time for People Helping Crypto Scammers Launder Proceeds – Regulation Bitcoin NewsThe interior ministry of Russia is targeting providers of money-laundering services to crypto fraudsters, and says they should go to prison.
Read more »
Woman charged in $4.5 billion Bitfinex case cleared to seek new job: BloombergHeather Morgan was charged in February along with her husband of conspiring to launder $4.5 billion worth of bitcoin stolen from the Bitfinex crypto exchange.
Read more »