Abstract: The article explores the current practice of organizational and legal regulation of offshore business worldwide in the context of unification of the national fiscal-tax system, erosion of the tax base, and tax evasion. The relevance of the topic is driven by changes in the global financial system and increased interconnectedness. The interconnection of financial systems provides an incentive for collective action by countries in shaping international standards and control mechanisms to combat tax evasion and preserve national budget revenues. Despite the significant scientific works of such Western authors as B. Arnold, K. Bilgren, D. Sandler, D. Pinto, as well as domestic researchers such as Y. Horodnichenko, K. Kovalchuk, Z. Lutsyshyn, N. Yuzhanina and T. Frolova, there is no single point of view on the effectiveness of existing mechanisms of decriminalization and de-offshorization of national economies. The current global context, especially after the COVID-19 pandemic, underscores the need to review and improve existing approaches to combating base erosion and tax evasion. The peculiarities of using cryptocurrencies as a new tool for tax evasion are examined. Cryptocurrencies pose new challenges for tax authorities as their use complicates tracking financial flows and facilitates tax evasion. The main material of the article includes an analysis of OECD tax transparency standards, which are not prepared for the new financial dimension, and the identification of the OECD’s «Achilles’ heel» rules, which could be exploited for illicit activities. The conclusions of the article emphasize the directions for implementing tax practices to restrict the outflow of profits to offshore jurisdictions based on the provisions of the BEPS Action Plan and CFC rules into Ukrainian legislation. The impact of digital financial instruments on micro- and macroeconomic stability is investigated, emphasizing the need to adapt tax norms to the new challenges of the global economy. In particular, the analysis examines how the coronavirus pandemic has contributed to the increased demand for cryptocurrencies and heightened attention to tax transparency issues. Additionally, the necessity of international cooperation for the effective implementation of new tax rules and ensuring the stability of the global financial system is highlighted. Approaches to improving tax legislation, including stricter regulation and the implementation of new technological solutions for tracking financial transactions, are analyzed. Furthermore, the role of national and international organizations in supporting transparency and combating tax abuses is discussed, including the OECD’s contribution to shaping global tax reporting standards. The research findings may be beneficial for policymakers, researchers, and practitioners working in the field of international taxation and financial regulation.