Crypto global taxation reports still have major cracks – and token actions can be the catalyst that obliges the system to catch up.
In recent weeks, platforms like Robinhood and Gemini have started to offer token actions to users of the European Union. These blockchain derivatives imitate the price of real actions like Apple and Tesla and allow users to negotiate themselves 24/7, free from the limits of traditional market hours.
This may look like a leap forward for accessibility and innovation. But if these products continue to gain ground and companies like Galaxy Digital think that they will siphon the liquidity of traditional exchanges, regulators will face increasing pressure to fill the difference in declaration between cryptographic platforms and traditional brokers.
Despite the progress made by the cryptographic industry over the years, the tax reports of cryptography are still far from the exchanges of traditional assets in many regions of the world.
There is always an obvious gap. Take Australia. The Australian Stock Exchange (ASX) provides to the office of the structured data tax, including selling prices, dates and product, which is automatically pre-filled in user yields.
For the crypto, the ATO approach looks more like a soft tap on the shoulder of its taxpayers. It presents a notification reminding users to check the taxable events, rather than a detailed pre-replisory report. Although the ATO knows that you are active in the crypto because the exchanges of crypto report that you have an account, it does not have the same complete monitoring as with the trading of actions.
This approach was perhaps justifiable at the start of the crypto, when most of the activities were linked to speculative tokens or to the NFT. But now, with platforms that probably want to extend their token stock offers in the world – which are not yet available in Australia, but I dare say that it is considered – the lack of tax transparency becomes much more difficult to justify.
Governments cannot afford to let potential tax revenue slip through the meshes of the net simply because they occur. I believe that tokenized stocks are starting to attract more and more attention in the coming months, regulators will rush to make sure they are prepared.
In the United States, IRS are already trying to catch up. Its new Crypto report rules, including the long-awaited form 1099-DA, should come into force in 2026. These will force cryptographic brokers to report user transactions similar to traditional financial institutions.
Meanwhile, Robinhood would have prepared to launch token actions for American customers.
This raises a timely question … Will this deployment coincide with the new IRS requirements?
Globally, the CRYPTO-ASET reporting framework of the OECD (CARF), also due in 2026, will apply the sharing of transaction data between the courts, similar to the way banks comply with the joint report standard.
If the tokenized actions will imitate real actions, reports on tax data around them must correspond accordingly.
The crypto days existing in a regulatory gray area are numbered. Whether platforms are ready or not, the era of total tax transparency arrives and tokenized actions can be the turning point that forces it in reality.
I believe that this moment will arrive in the next five years.
