The Crypto-Asset Reporting Framework (CARF), developed under the leadership of the Organization for Economic Cooperation and Development (OECD), officially took effect on January 1, 2026, initially covering 48 countries and regions. The framework requires Crypto-Asset Service Providers (CASPs) to disclose user transaction information to tax authorities and submit annual reporting covering transactions, exchanges, and asset transfers, with the aim of promoting global tax transparency and strengthening cross-border data exchange. Reports indicate that CARF aims to address regulatory gaps in the digital asset sector under the existing Common Reporting Standard (CRS) and plans to initiate regular information exchange among member countries starting in 2027. All EU member states, the United Kingdom, Brazil, the Cayman Islands, and other regions will be the first to participate. Australia, Canada, Singapore, Switzerland, the United Arab Emirates, and other countries are expected to join in 2028, while the United States plans to join the system in 2029. The OECD stated that this framework will subject crypto assets to tax regulatory standards equivalent to those of the traditional financial system, significantly reducing opportunities to evade taxes through the use of crypto assets. (Crowdfund Insider)