Cryptocurrency and Taxation: Addressing Challenges for Financial Institutions

The taxation of cryptocurrency transactions continues to evolve and create additional obligations for financial institutions.  Please join us on 21 March 2024 for an analysis of topical issues and practical insights. This webinar will be hosted by Chris Holland (Partner, HM) who will lead a panel discussion with Matthew Lovatt (Tax Partner, Deloitte Singapore) and Stephen Banfield (Tax Partner, EY Singapore).

Key developments to be addressed by the panel include:

• the pending implementation of the Crypto-Assets Reporting Framework.  This is modelled on the common reporting standard and requires market participants to consider if their systems and processes are ready.
• ongoing questions of characterisation in relation to the taxation of tokenised assets, cryptocurrency funds and defi transactions.
• recent authorities in the determination of the situs of cryptocurrency assets.  This is highly relevant for certain tax purposes especially where questions of remittance arise.

About ADAMS

The webinar is sponsored by the ACCESS Digital Asset Management Subcommittee (“ADAMS”).  ADAMS is made up of a cross-section of senior level digital asset industry experts representing asset managers, custodians, professional advisers, and other service providers.  Details for the webinar will be sent to your email prior to the date of the event.

ADAMS has been tasked with driving ACCESS’ engagement specifically relating to digital asset management through regulatory engagement, thought-leadership initiatives, and operational guidance.

ADAMS’ mission is to promote the enhancement of the MAS’ and IRAS’ regulatory remit over digital asset management in a manner that:

(i) more appropriately addresses the relevant risks faced by digital asset managers and investors;

(ii) reflects the level of demand for digital asset management solutions in the region; and

(iii) removes unnecessary barriers to institutional investment.