• Stricter crypto reporting laws proposed in New Zealand, effective April 2026.
• Penalties introduced for non-compliance in crypto transactions reporting.
• OECD’s CARF framework to enhance transparency in NZ’s crypto-asset income tracking.

New Zealand’s government is exploring a new way to regulate cryptocurrency transactions. On Monday, Revenue Minister Simon Watts suggested adopting the Organization for Economic Co-operation and Development’s (OECD) Crypto-Asset Reporting Framework (CARF) into the country’s laws.

This proposal, included in the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Bill, aims to improve the country’s ability to track crypto-asset income. Due to the unique nature of cryptocurrencies, tax authorities have struggled to monitor this sector.

The proposed amendments would go into effect on April 1, 2026. From this date, all New Zealand-based crypto service providers would be required to collect specific information on crypto transactions. This requirement would encompass transactions made by users through these service providers.

The collected data would then be submitted to Inland Revenue by June 3…

The post New Zealand to Adopt OECD Framework for Crypto Oversight appeared first on Coin Edition.

• Stricter crypto reporting laws proposed in New Zealand, effective April 2026.
• Penalties introduced for non-compliance in crypto transactions reporting.
• OECD’s CARF framework to enhance transparency in NZ’s crypto-asset income tracking.

New Zealand’s government is exploring a new way to regulate cryptocurrency transactions. On Monday, Revenue Minister Simon Watts suggested adopting the Organization for Economic Co-operation and Development’s (OECD) Crypto-Asset Reporting Framework (CARF) into the country’s laws.

This proposal, included in the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Bill, aims to improve the country’s ability to track crypto-asset income. Due to the unique nature of cryptocurrencies, tax authorities have struggled to monitor this sector.

The proposed amendments would go into effect on April 1, 2026. From this date, all New Zealand-based crypto service providers would be required to collect specific information on crypto transactions. This requirement would encompass transactions made by users through these service providers.

The collected data would then be submitted to Inland Revenue by June 3…

The post New Zealand to Adopt OECD Framework for Crypto Oversight appeared first on Coin Edition.