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Apparently, the G20 countries discussed the taxation of cross-border cryo-transactions at the recent G20 summit in Buenos Aires, Argentina.

G20 leaders have reportedly presented a document highlighting the need for such tax regimes for crypto currencies. Currently, the rules and regulations vary from country to country.

The document also calls for a “tax system for cross-border electronic payment services”. This description would include crypto currencies and could possibly eliminate some of the unclear tax positions of different governments on crypto currencies. The details of the system are unknown and the implementation of a global tax system becomes a complex task.

The G20 countries are currently working on the system and will consider the issue in 2019 when Japan takes over the presidency. A final version of the proposal is expected by 2020.

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