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JOINT INITIATIVE FOR THE IMPLEMENTION OF THE OECD CRYPTO-ASSET REPORTING FRAMEWORK (CARF)

Writer's picture: Christian Ribera CaellasChristian Ribera Caellas

Updated: Jan 30

To ensure global tax transparency concerning the rapid growth of the crypto-assets market, new international standards for the automatic exchange of information between tax authorities has been developed by the OECD: the Crypto-Assets Reporting Framework (CARF).


The implementation of the CARF may enhance the ability for business and governments to verify tax compliance and combat tax evasion within the crypto market. The CARF could lead, once implemented into national legislations in the near future (by around 2027), to the application of exchange agreements between signatory jurisdictions. Around 50 countries and jurisdictions have already signed a joint-initiative for implementation of the CARF, inclusive EU-Member States, Switzerland, the UK (including overseas territories) and the U.S.


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