48 Countries Have Begun Collecting Crypto Asset Tax Data for the "Crypto Asset Reporting Framework"

Odaily News: Starting this year, 48 countries and regions globally will begin recording crypto wallet transaction data to align with the Crypto Asset Reporting Framework (CARF), which will be formally implemented in 2027. According to the international tax transparency framework established by the Organisation for Economic Co-operation and Development (OECD), crypto service providers in participating jurisdictions, including centralized exchanges, certain decentralized exchanges, crypto ATMs, and brokers, have been required to start collecting necessary transaction data. Furthermore, a second batch of 27 jurisdictions, including Hong Kong (China), Australia, Canada, Mexico, and Switzerland, will commence data collection on January 1, 2027, and initiate information sharing in 2028. The framework aims to combat cross-border tax evasion and money laundering, enhancing the transparency of crypto asset holdings.