Global Krypto tax reporting still has major cracks – and tokenized warehouses may be the catalyst that forces the system to catch up.
In recent weeks, platforms like Robinhood and Gemini have begun to offer tokenized warehouses to users in the European Union. These blockchain-based derivatives mimic the price of real equities such as Apple and Tesla and allow users to trade 24/7, free of the limitations of traditional market hours.
It may sound like a jump forward for accessibility and innovation. But if these products continue to have traction and companies like Galaxy Digital believe they will sifle liquidity from traditional exchanges, regulators will face growing pressure to close the reporting gap between crypto platforms and traditional brokers.
Despite the progress that the crypto industry has made over the years, crypto cathedral reporting is still far behind compared to traditional asset exchanges in many parts of the world.
There is still an obvious hole. Take Australia. The Australian stock exchange (ASX) provides the tax office structured data, including sales prices, dates and revenue, which are automatically pre -filled at the users’ returns.
For Krypto, the ATO’s approach is more like a gentle pressure on the shoulder to its taxpayers. It presents a review that reminds users to check for taxable events, rather than a detailed pre -filled report. While ato knows you are active in crypto because crypto exchanges report that you have an account, it does not have the same comprehensive supervision as it does with stock trading.
This approach may have been proper in Crypto’s early days when most activities were tied to speculative tokens or NFTs. But now, with platforms that probably want to expand their offers of tokenized shares globally – 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 cracks simply because they are happening onchain. I think that when tokenized warehouses begin to get more and more attention in the coming months, the supervisory authorities will shrink to make sure they are prepared.
In the United States, the IRS is already trying to catch up. Its new crypto reporting rules, including the long-awaited form 1099-da, are set to come into force in 2026. These will require crypto-brokers to report user transactions similar to traditional financial institutions.
Meanwhile, Robinhood is preparing to launch tokenized shares to US customers.
It raises a timely question … Will this roll -out coincide with the new IRS requirements?
Worldwide, the OECD’s Crypto-Ass Reporting Framework (Carf), also due to 2026, will enforce the sharing of transaction data across jurisdictions, similar to how banks comply with the joint reporting standard.
If tokenized warehouses will imitate real shares, tax data reported around them must match accordingly.
The days of crypto found in a regulatory gray zone are numbered. Whether platforms are clear or not, the era comes with full tax transparency, and tokenized warehouses may be the turning point that forces it into reality.
I think that moment will arrive within the next five years.
