OECD Crypto-Asset Reporting Framework (CARF) officially comes into effect

The Crypto-Asset Reporting Framework (CARF), developed by the Organisation for Economic Co-operation and Development (OECD), officially came into effect on January 1, 2026, initially covering 48 countries and regions. This framework requires crypto asset service providers to disclose user transaction information to tax authorities and submit annual reporting, covering activities such as trading, exchange, and asset transfers. All EU member states, the United Kingdom, Brazil, the Cayman Islands, and other regions are among the first participants. Australia, Canada, Singapore, Switzerland, and the United Arab Emirates are expected to join in 2028, while the United States plans to join the system in 2029. CARF aims to fill the regulatory gap in the digital asset sector left by the existing Common Reporting Standard and to promote global tax transparency and cross-border data exchange.