BlockBeats news: On January 2, it was reported that the "Cryptocurrency Asset Reporting Framework" (CARF), led by the Organization for Economic Co-operation and Development (OECD), will officially take effect in 2027. Prior to this, starting from January 1, 2026, the first 48 jurisdictions have required local cryptocurrency service providers to begin collecting user cryptocurrency wallet and transaction data in preparation for future cross-border tax information exchange.
According to the OECD, institutions participating in data collection include centralized exchanges, some decentralized platforms, cryptocurrency ATMs, and brokers. The core objective of the Common Reporting Framework (CARF) is to enhance tax transparency, combat cross-border tax evasion and money laundering, and ensure that taxpayers fulfill their tax obligations wherever they conduct cryptocurrency transactions.
In addition to the initial 48 countries, 27 additional jurisdictions (including Australia, Canada, Switzerland, etc.) will begin collecting data starting in 2027 and will join the information exchange mechanism in 2028.
Although CARF is officially positioned for tax purposes, industry insiders have pointed out that the relevant data may be used in the future for identity verification, anti-money laundering efforts, and criminal investigations, which could have a profound impact on the anonymity and compliance environment of the cryptocurrency industry.