OECD's Crypto-Asset Reporting Framework (CARF) Officially Takes Effect, Covering 48 Jurisdictions

Odaily News: The Crypto-Asset Reporting Framework (CARF), developed under the leadership of the Organisation for Economic Co-operation and Development (OECD), officially took effect on January 1, 2026, initially covering 48 countries and regions. The framework requires Crypto-Asset Service Providers (CASPs) to disclose user transaction information to tax authorities and submit annual reports, covering activities such as trading, exchange, and asset transfers, to promote global tax transparency and strengthen cross-border data exchange.

Reports indicate that CARF aims to address the regulatory gap in the digital asset sector under the existing Common Reporting Standard (CRS) and plans to initiate regular information exchange among member states starting in 2027. All EU member states, the UK, Brazil, the Cayman Islands, and other regions will be the first to participate. Countries such as Australia, Canada, Singapore, Switzerland, and the UAE are expected to join in 2028, while the United States plans to integrate into the system in 2029. The OECD stated that the framework brings crypto assets under tax regulatory standards comparable to those of the traditional financial system, significantly reducing the space for using crypto assets to evade taxes. (Crowdfund Insider)