The global cryptographic tax report still has important cracks, and tokenized shares can be the catalyst that forces the system to catch up.
In recent weeks, platforms such as Robinhood and Gemini have begun to offer tokenized actions to European Union users. These blockchain -based derivatives imitate the price of real actions such as Apple and Tesla and allow users to trade 24/7, free from the limitations of traditional market hours.
That may sound like a leap forward for accessibility and innovation. But if these products continue to win traction, and companies such as Galaxy Digital believe that they will divert the liquidity of traditional exchanges, regulators will face a growing pressure to close the report gap between cryptographic platforms and traditional corridors.
Despite the progress that the cryptographic industry has carried out over the years, cryptographic tax reports are still far compared to traditional asset exchanges in many parts of the world.
There is still an obvious gap. Take Australia. The Australian Stock Exchange (ASX) provides the Tax Office for structured data, including sales prices, dates and income, which automatically fills up with user returns.
For cryptography, the ATO approach is more like a soft touch on the shoulder of its taxpayers. It presents a notification reminiscent of users to verify the taxable events, instead of a previously filled detailed report. While ATO knows that it is active in Crypto because encryption exchanges report that it has an account, it does not have the same comprehensive supervision as with the trade trade.
That approach may have been justifiable in Crypto’s first days, when most of the activity was linked to speculative tokens or NFT. But now, with platforms that probably wish to expand their offers of tokenized shares worldwide, which are not yet available in Australia, but I dare to say that it is being considered, the lack of fiscal transparency becomes much more difficult to justify.
Governments cannot afford to allow potential tax revenues to pass through cracks simply because they are happening in the chain. I think that as tokenized stocks begin to win more and more attention in the coming months, regulators will be fighting to make sure they are prepared.
In the United States, IRS is already trying to catch up. Their new rules of cryptographic reports, including the long-awaited form 1099-DA, will enter into force in 2026. These will require encryption corridors to denounce transactions of users similar to traditional financial institutions.
Meanwhile, Robinhood is preparing to launch tokenized actions for US clients.
He raises a timely question … will that deployment coincide with the new IRS requirements?
On a global scale, the Crypto-Assset of the OECD reports (CARF), also due in 2026, will impose the exchange of transaction data between the jurisdictions, similar to how the banks comply with the standard of common reports.
If the tokenized actions will imitate real actions, the fiscal data that reports around them must coincide accordingly.
The existing crypto days in a regulatory gray area are numbered. Whether the platforms are ready or not, the era of full fiscal transparency is coming and the tokenized actions can be the turning point that forces it to reality.
I think that moment will arrive in the next five years.
