- The European Commission has published proposals to revise the Directive on administrative cooperation to implement the Organisation for Economic Co-operation and Development’s (OECD) rules on reporting for crypto-assets.
- The rules will require institutions offering crypto-asset services or e-money services to customers in the European Union (EU) to report, with 2026 as the first year to report on (by 31 January 2027).
- The proposed rules also contain updates to existing automatic exchange of information rules, including establishing minimum penalties for non-compliance across all aspects of automatic exchange of information and provisions targeting high net worth individuals.
Source EY
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