According to Cointelegraph, the Cryptographic Asset Reporting Framework (CARF), led by the Organization for Economic Cooperation and Development (OECD), is set to take effect in 2027. Prior to that, starting 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 the OECD, institutions participating in data collection include centralized exchanges, certain decentralized platforms, crypto ATMs, and brokers. The core objective of CARF is to enhance tax transparency, combat cross-border tax evasion and money laundering, and ensure that 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, and Switzerland) will begin collecting data in 2027 and join the information exchange mechanism in 2028. Although CARF is officially designated for tax purposes, industry observers note that the relevant data may be used in the future for identity verification, anti-money laundering, and criminal investigations, which could have far-reaching implications for the anonymity and compliance landscape of the crypto industry.