Tax Solutions: Digital Assets Due Diligence and Information Reporting
Navigating the Future of Crypto Compliance
S&P Global Market Intelligence equips financial institutions and crypto exchanges with the tools and support needed to navigate industry regulations. Our Digital Asset Due Diligence and Information Reporting solution provides an end-to-end solution for global digital asset tax reporting requirements including IRS digital asset broker rules requiring Form 1099-DA reporting, and the OECD CARF.
New IRS and OECD digital asset broker regulations
– IRS Digital Asset Broker Rules: Starting in tax year 2025, with additional requirements phasing in until 2027, the IRS will require crypto brokers to obtain valid due diligence information from users, report gross proceeds and cost basis information on a new Form 1099-DA.
– OECD Crypto Asset reporting Framework (CARF): In November 2024, the OECD announced 63 jurisdictions had committed to the Automatic Exchange of Information (AEOI) under the new CARF – a crypto specific reporting regime bridging current gaps with the Common Reporting Standard (CRS).
How we help
With the existing information reporting requirements such as FATCA and CRS providing a seamless platform to extend the technology offering to the digital asset industry, the S&P Global Market Intelligence Tax Solution has been trusted by some of the largest financial institutions for the past 20 years to support them with:
Regulatory Compliance
Stay ahead of the Digital Asset Reporting regulations with our advanced due diligence and data management solutions.
Cost Efficiency
Minimize expenses associated with tax compliance and account onboarding.
Simplified Onboarding
Streamline the onboarding process and reduce friction for a smoother user experience.
Operational Efficiency
Maintain high operational standards while ensuring full regulatory compliance.
Our Approach
Solution Features
Get Started Today
Simplify your Tax Solutions Digital Assets Due Diligence and Information Reporting journey and maintain operational efficiency by submitting the form and to learn more about how we support your business.