Crypto Tax Data Collection Begins in 48 Countries Ahead of CARF Rollout in 2027

Global Crypto Tax Reporting Moves Into Preparation Phase

Crypto investors across 48 countries are entering a new era of tax transparency as governments begin laying the groundwork for the Crypto-Asset Reporting Framework (CARF), a global standard designed to improve oversight of digital asset transactions.

Although CARF is scheduled to formally take effect in 2027, crypto service providers in participating jurisdictions are already required to begin collecting transaction data as of January 1, ensuring tax authorities will be ready to exchange information once reporting begins.

What Is CARF and Why It Matters

CARF is an international tax transparency framework developed by the Organisation for Economic Co-operation and Development (OECD). Its primary goal is to help tax authorities track crypto activity across borders and ensure individuals and businesses meet their tax obligations, regardless of where transactions occur.

The framework applies to a wide range of crypto intermediaries, including:

• Centralized exchanges

• Certain decentralized platforms

• Crypto ATMs

• Brokers and dealers

The move reflects a broader push by governments to combat tax evasion, illicit finance, and money laundering in the rapidly growing digital asset sector.

Many Jurisdictions Already Have Laws in Place

In a November update, the OECD said that a growing number of CARF-participating jurisdictions have already enacted legislation requiring crypto service providers to collect CARF-related data. Other countries are in the final stages of implementing enforcement rules, signaling that preparations are well underway.

The framework has been years in the making. G20 finance ministers began calling for coordinated crypto tax reporting standards in 2021, and by 2022, the OECD had finalized CARF’s core rules.

Two Reporting Timelines for Participating Countries

Under the current rollout plan:

• 48 countries form the first group and will begin recording crypto transaction data during 2026, with cross-border data sharing starting in 2027

• A second group of 27 jurisdictions will delay reporting, with data exchanges beginning in 202

Countries in the second wave — including Australia, Canada, Mexico, and Switzerland — have until January 1, 2027, to start collecting the required data.

Hong Kong Seeks Public Input on CARF Implementation

Hong Kong, which is part of the second reporting group, announced this week that it is seeking feedback on how CARF should be implemented locally, alongside proposed updates to existing tax reporting standards.

Officials linked the initiative to broader efforts aimed at reducing cross-border tax evasion and improving transparency in international financial activity.

CARF Data May Have Uses Beyond Taxation

While CARF is officially designed for tax reporting, some industry observers believe its impact could extend further.

Crypto tax software firm TaxBit said in a November analysis that CARF data could eventually provide authorities with unprecedented visibility into crypto ownership and identity information. The firm noted that the framework may help regulators:

• Identify previously anonymous crypto holders

• Link wallet activity to real-world identities

• Support financial crime and intelligence investigations

Such possibilities have sparked debate within the crypto community about privacy, data security, and the long-term implications of global reporting standards.

What Crypto Investors Should Expect Next

As data collection ramps up over the next two years, crypto users in participating jurisdictions can expect increased reporting obligations, stricter compliance requirements for platforms, and greater coordination between tax authorities worldwide.

While CARF does not immediately change how taxes are calculated, it significantly raises the likelihood that crypto activity will be visible to regulators — marking a major shift in how digital assets are monitored globally.

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