TechFlow reports that on August 27, according to Cointelegraph, New Zealand Finance Minister Simon Watts submitted a new bill proposing to implement the Crypto-Asset Reporting Framework (CARF) established by the Organisation for Economic Co-operation and Development (OECD). Under the bill, crypto asset service providers in New Zealand will be required to collect and report user transaction information starting April 1, 2026. Service providers failing to comply with the regulations with "reasonable care" could face fines ranging from 20,000 to 100,000 New Zealand dollars (approximately $12,000 to $62,000 USD). The move aims to enhance tax transparency in cryptocurrency transactions and align with global regulatory trends. The new rules will take effect from June 30, 2027, with relevant information shared with global tax authorities by September 30, 2027.
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