DTI Foundation Update: January 2025

Welcome to the DTI Foundation’s latest Update. Our aim is to share news on DTIF initiatives, statistics, regulatory updates and recent publications impacting digital asset markets.  

DTI Foundation initiatives

US IRS finalises crypto tax form 1099-DA

The IRS finalized Form 1099-DA for crypto tax reporting, requiring brokers to submit the code and name of digital assets from transactions. After industry consultation, the IRS confirmed these fields should align with the DTI code and asset name, ensuring consistent identification across submissions. Brokers must provide these forms to customers in 2026 for transactions from the 2025 tax year.

See a full snapshot of DTI adoption and integration use cases here.

DTI Foundation responds to European Commission Call for Evidence on Single Market Strategy 2025

The DTI Foundation responded to European Commission’s Call for Evidence on its Single Market Strategy 2025. Given the DTI Foundation’s remit, our response focuses on the use of International Organization for Standardization (ISO) standards where possible to support the collection and transmission of data elements in a consistent manner across markets. See the full response here.

DTI Foundation responds to Kenya Draft Virtual Asset National Policy and VASP Bill

The DTI Foundation responded to the National Treasury & Economic Planning of the Republic of Kenya’s consultation, seeking views on the Draft National Policy On Virtual Assets And Virtual Asset Service Providers and the Virtual Asset Service Providers Bill, 2025. Our response highlights the benefits of using the DTI to support the unambiguous identification of Virtual Asset (VA) within any future technical standards for VA issuers or Virtual Asset Service Providers (VASPs). See the full response here.

DTI Foundation responds to Australian Treasury consultation on implementing crypto tax reporting framework

The DTI Foundation responded to The Australian Treasury’s consultation on implementing the OECD’s Crypto Asset Reporting Framework (CARF). Our response highlights the benefits of using the DTI to support the unambiguous identification of cryptoassets within the data set for Reporting Cryptoasset Service Providers (RCASPs) set out in the CARF and CARF XML Schema user guide. See the full response here.

DTI Foundation responds to ESMA MiFIR Review on RTS 22 transaction reporting data and RTS 24 on order book data

The DTI Foundation and its Product Advisory Committee responded to ESMA’s consultation on the review of transaction data reporting and order book data under MiFIR. Our response emphasises (i) the benefits of the DTI alongside other internationally recognised ISO standards, (ii) the building regulatory and industry adoption of DTI to foster such benefits, and (iii) recognition of the DTI Foundation’s governance framework for operating as ISO Registration Authority. See the full response here.

Digital Assets Forum, 3 February 2025, London

Digital Assets Week, 27 February 2025, Hong Kong

Paris Blockchain Week, 8-10 April 2025, Paris

Digital Assets Week, 20-21 May 2025, New York

31 January: The UK’s Financial Services and Markets Act 2000 (Collective Investment Schemes) (Amendment) Order 2025 (SI 2025 No. 17) has come into force. The purpose of this instrument is to ensure that arrangements for qualifying cryptoasset staking do not amount to a collective investment scheme.

23 January: ESMA published its opinion on regulatory technical standards specifying certain requirements in relation to conflicts of interest for crypto-asset service providers under MiCA.

23 January: FSB published its 2025 work programme, including digitalisation, climate change, and the consequences of shifts in the macroeconomic and interest rate environment.

23 January: The White House announced its Executive Order on Strengthening American Leadership in Digital Financial Technology, including the provision of regulatory clarity for emerging technologies, banning of CBDC use, among other items.

21 January: US SEC Acting Chairman announced the launched a crypto task force dedicated to developing a comprehensive and clear regulatory framework for crypto assets.

17 January: ESMA published its public statement reinforcing the position related to the offer of ARTs and EMTs (also known as stablecoins) in the EU under Market in Crypto Assets regulation (MiCA). In parallel, ESMA published a Q&A on the scope of offering ARTs and EMTs by CASPs.

17 January: Commissione Nazionale per le Società e la Borsa (CONSOB) published its communication to interested parties submitting requests to operate under MiCA.

16 January: EBA and ESMA published a Joint Report on recent developments in crypto-assets, analysing decentralised finance (DeFi) and crypto lending, borrowing and staking.

15 January: MAS announced its Global-Asia Digital Bond Grant Scheme (G-ADBGS), seeking to catalyse the issuance and broader market adoption of digital bonds in Singapore.

14 January: ESMA published the Securities and Markets Stakeholder Group advice to ESMA on the role and competence of the National Competent Authorities in supervising the crypto markets under MiCA.

9 January: OECD published its paper on the tokenisation of assets and distributed ledger technologies in financial markets.

8 January: IMF published its technical assistance report on the current state and future objectives for regulating crypto assets in the Republic of Kenya.

8 January: Outcoing CFTC Chairman Behnam’s speech advocates on the continued work to address the gap in regulation of the cash markets for crypto or digital asset commodities.

8 January: HKMA launched the Supervisory Incubator, designed to help banks maximise the potential benefits of DLT adoption by effectively managing the associated risks.