In a public consultation document released on Tuesday, the OECD opened for public comment a proposal that would require crypto service providers to better identify users and report on certain transactions. The organization said that under current reporting requirements, tax authorities do not have “adequate visibility” for transactions dealing with crypto assets. According to the OECD, the crypto market posed a “significant risk” around tax transparency, claiming that any gains will eventually be lost without additional safeguards. The proposal suggested individuals and businesses already dealing in crypto services — including exchanges, retail transactions and transferring tokens — have 12 months from the effective date of the rules to comply with the reporting requirements.

https://cointelegraph.com/news/oecd-opens-proposal-on-tax-transparency-framework-for-crypto-to-public-comment