the Crypto-Asset Reporting Framework (CARF) led by the Organisation for Economic Co-operation and Development (OECD) officially came into effect on January 1, 2026, initially covering 48 countries and regions.

The 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. CARF is designed to fill the regulatory gap in the digital asset field left by the existing Common Reporting Standard (CRS), with plans to initiate regular information exchange among member countries starting in 2027. All EU members, the UK, Brazil, the Cayman Islands, and other regions will participate first, while countries such as Australia, Canada, Singapore, Switzerland, and the UAE are expected to join in 2028, and the United States plans to connect to the system in 2029. The OECD stated that the framework incorporates crypto assets into tax regulatory standards comparable to the traditional financial system, significantly reducing the space for tax evasion using crypto assets.