48 countries have begun collecting tax data on crypto assets for the reporting framework

Forty-eight countries and regions around the world will start recording cryptocurrency wallet transaction data from this year to align with the Cryptocurrency Asset Reporting Framework (CARF) that will be officially implemented in 2027. According to the international tax transparency framework established by the Organisation for Economic Co-operation and Development (OECD), participating jurisdictions' crypto service providers, including centralized exchanges, some decentralized exchanges, crypto ATMs, and brokers, have been required to begin collecting the necessary transaction data.

In addition, a second batch of 27 jurisdictions, including Hong Kong, Australia, Canada, Mexico, and Switzerland, will start collecting data on January 1, 2027, and will initiate information sharing in 2028. The framework aims to combat cross-border tax evasion and money laundering, enhancing the transparency of cryptocurrency asset holdings.