The Crypto Asset Reporting Framework will be implemented in 2027, with 48 countries having initiated crypto tax data collection this year.

On January 2, the OECD-led Crypto Asset Reporting Framework (CARF) will officially come into effect in 2027. Prior to this, starting from January 1, 2026, the first 48 jurisdictions have required local crypto service providers to begin collecting user crypto wallet and transaction data in preparation for subsequent cross-border tax information exchange.

According to disclosures from the OECD, participating institutions in data collection include centralized trading platforms, some decentralized platforms, crypto ATMs, and brokers. The core goal of CARF is to enhance tax transparency, combat cross-border tax evasion and money laundering, and ensure taxpayers fulfill their tax obligations regardless of where they conduct crypto transactions.

In addition to the initial 48 countries, another 27 jurisdictions (including Australia, Canada, Switzerland, etc.) will start collecting data from 2027 and will join the information exchange mechanism in 2028.

Although CARF is officially positioned for tax purposes, industry insiders point out that the related data may be used in the future for identity verification, anti-money laundering, and criminal investigations, which could have a profound impact on the anonymity and compliance environment of the crypto industry.