Definition ∞ Global Tax Compliance refers to the adherence to tax laws and regulations across multiple international jurisdictions. For individuals and entities operating in the digital asset space, this means reporting income, gains, and holdings accurately to relevant tax authorities worldwide. It requires understanding complex and often differing tax rules in various countries. The objective is to prevent tax evasion and ensure fair taxation of cross-border financial activities.
Context ∞ News about Global Tax Compliance in the crypto world highlights the increasing efforts by international bodies and national governments to standardize reporting for digital assets. Frameworks like CARF and CRS 2.0 are central to these discussions, aiming to establish a common approach to tax transparency. A critical challenge involves the difficulty of tracking and reporting digital asset transactions that occur across numerous platforms and jurisdictions. Achieving global tax compliance is a major regulatory goal for the evolving digital finance landscape.
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