Financial data and market infrastructure provider, SIX, has introduced a new data package, the Digital Assets Regulatory & Tax Service, it was announced Tuesday.
SIX Announces Digital Assets Regulatory and Tax Service
The new data package is said to be aimed at helping financial institutions navigate the rapidly evolving landscape of digital asset regulations and tax compliance.
The service, launched amid increasing institutional demand, enables firms to assess whether over 80,000 crypto-related instruments, including tokens and blockchain-based assets, fall under regulatory and tax requirements, the company explained.
They added that it provides daily updates, ensuring users remain informed about regulatory changes affecting digital assets.
The tool is said to cover a broad range of global regulations, including the Markets in Crypto-Assets (MiCA) regulation, the Markets in Financial Instruments Directive (MiFID), the OECD’s Crypto Asset Reporting Framework (CARF), and the IRS’s Form 1099-DA.
Additionally, it includes traditional financial assets linked to crypto assets, aligning with Hong Kong’s virtual assets regulatory framework. SIX sources its data from providers such as the ESMA Register, the Digital Token Identifiers Foundation, and CCData.
Users are able to access the service via SIX Flex, a platform that allows institutions to customise how they manage market, reference, regulatory, and ESG data.
“This tool couldn’t arrive at a more opportune time for financial institutions in Europe and farther afield,” said Roy Kirby, Head of Core Products at SIX. “It will provide firms with an extremely detailed and reliable snapshot of their digital assets obligations… at a time when the regulatory landscape for digital assets is shifting at an unprecedented rate.”
