The Organisation for Economic Co-operation and Development (OECD) developed a standardized framework for countries to automatically share tax-related information regarding crypto-assets, the Crypto-Asset Reporting Framework (CARF). Forty-eight jurisdictions have signed up. That includes the U.S., UK, many EU countries, Australia and Brazil.
However, most of the heaviest crypto adoption jurisdictions are not OECD members. Only the US is an OECD member amongst the top ten countries in the Chainalysis 2023 Global Crypto Adoption Index. There are five OECD members in the top 20, but Turkey has not signed up for the CARF.
That doesn’t mean reporting will start immediately. For example, the UK will enact the CARF into its laws and expects to start data exchange in 2027. The UK’s Treasury estimates crypto tax avoidance could be as high as 55% to 95%.
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