OECD Crypto-Asset Reporting Framework (CARF) officially comes into effect, covering 48 jurisdictions

ChainCatcher news, the Crypto-Asset Reporting Framework (CARF), developed under the leadership of 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 (CASPs) to disclose users’ transaction information to tax authorities and submit annual reporting, covering activities such as trading, exchange, and asset transfers, in order to promote global tax transparency and strengthen cross-border data exchange. CARF aims to fill the regulatory gap in the digital asset sector left by the existing Common Reporting Standard (CRS), and plans to launch regular information exchanges among member states starting from 2027. All EU member states, the United Kingdom, Brazil, the Cayman Islands, and other regions will be among the first to participate, while Australia, Canada, Singapore, Switzerland, and the United Arab Emirates are expected to join in 2028. The United States plans to join the system in 2029. According to the OECD, this framework brings crypto assets under tax regulatory standards equivalent to those of the traditional financial system, significantly reducing the space for tax evasion using crypto assets.