48 jurisdictions worldwide implement crypto asset reporting frameworks, leading to a historic shift in cryptocurrency taxation

Starting from January 1, 2026, a historic shift in cryptocurrency taxation has been implemented across 48 jurisdictions worldwide, including the United Kingdom and EU member states. This year, as the global rollout of the crypto asset reporting framework takes place, crypto investors in these 48 countries will begin to have their crypto wallet transaction data recorded for tax purposes.

Source: OECD

The International Tax Transparency Framework for Crypto Assets (CARF), developed by the Organisation for Economic Co-operation and Development (OECD), will officially come into effect in 2027. However, since January 1 of this year, crypto service providers in participating jurisdictions—including centralized exchanges, decentralized exchanges, crypto ATMs, brokers, and traders—have been required to start collecting necessary transaction data to combat tax evasion and money laundering activities.

In a November update report, the OECD stated that an increasing number of jurisdictions have committed to exchanging information under the CARF framework starting in 2027. These jurisdictions have already enacted the necessary legislation to mandate crypto service providers to collect data related to CARF or are in the final stages of implementing these laws. The OECD’s Crypto Asset Reporting Framework (CARF) marks a fundamental shift in monitoring digital asset transactions and reporting to tax authorities. Under this new system, major cryptocurrency exchanges are now required to collect comprehensive transaction data from users and report detailed transaction information and tax residency status to national tax authorities. This framework represents a coordinated international effort to eliminate the anonymity traditionally associated with crypto transactions. Exchanges operating within participating jurisdictions are now required to retain complete user transaction records, including asset type, acquisition date, cost, disposal date, gains, expenses, and wallet addresses. This standardized approach establishes a unified global standard for crypto taxation, with participating countries committing to automatically share relevant data starting in 2027. HM Revenue & Customs (HMRC) in the UK will begin exchanging data with EU member states, Brazil, the Cayman Islands, South Africa, and other participating countries under reciprocal agreements. The implementation of CARF reflects the growing consensus within the international community on crypto regulation and tax compliance. Out of 75 countries committed to implementing this framework, 48 are already actively enforcing it, with others expected to follow. The United States plans to implement CARF in 2028, with data exchange beginning in 2029. This phased global rollout is establishing an increasingly interconnected tax enforcement system, where crypto users worldwide will face stricter scrutiny and audit risks. For crypto users and traders, the new rules require immediate compliance actions. Individuals must provide personal information to crypto service providers before the reporting deadline and keep detailed records of all transactions.