CARF Implementation Imminent: Cryptocurrency Assets Included in Global Automatic Tax Information Exchange System

The OECD-driven Crypto Asset Information Automatic Exchange Framework (CARF) has entered the implementation phase. According to the schedule, starting in 2026, crypto trading platforms will systematically collect users' tax identification and transaction data, with the first round of cross-border tax information automatic exchange beginning in 2027.

Under this framework, the role of crypto platforms has shifted from anti-money laundering compliance to tax information reporting entities.

Platforms are required to report user identity, account balances, and transaction records to the tax authorities in their registered jurisdiction, and transfer this information through the CARF mechanism to the tax residence country of the user.

Crypto assets are being officially integrated into an international tax transparency system on par with bank accounts.