The OECD's CARF (Crypto Asset Tax Filing Framework) has officially come into effect, covering 48 jurisdictions.

The Crypto-Asset Reporting Framework (CARF), spearheaded by the Organization for Economic Cooperation and Development (OECD), officially came into effect on January 1, 2026, initially covering 48 countries and regions. This framework requires crypto-asset service providers (CASPs) to disclose user transaction information to tax authorities and submit annual reports covering transactions, exchanges, and asset transfers, aiming to promote global tax transparency and strengthen cross-border data exchange. Reports indicate that CARF aims to fill regulatory gaps in the existing Common Reporting Standard (CRS) for digital assets and plans to launch regular information exchange among member states starting in 2027. All EU members, the UK, Brazil, and the Cayman Islands will be among the first to participate, with Australia, Canada, Singapore, Switzerland, and the UAE expected to join in 2028, and the US planning to join in 2029. The OECD stated that this framework brings crypto-assets under tax regulatory standards comparable to those of the traditional financial system, significantly reducing opportunities for tax evasion using crypto-assets. (Crowdfund Insider)