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 cryptocurrency reporting framework is launched, cryptocurrency investors in these 48 countries will begin to have their wallet transaction data recorded for tax purposes.

Source: OECD

The International Tax Transparency Framework for Crypto Assets Declaration (CARF), developed by the Organisation for Economic Co-operation and Development (OECD), will come into effect in 2027. However, from January 1 of this year, cryptocurrency service providers in participating jurisdictions—including centralized exchanges, decentralized exchanges, crypto ATMs, brokers, and traders—are required to start collecting the 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 Declaration Framework (CARF) marks a fundamental change in monitoring digital asset transactions and reporting to tax authorities. Under this new system, major cryptocurrency exchanges are now required to collect comprehensive user transaction data and report detailed transaction information and tax residency status to national tax authorities.
The framework represents a coordinated international effort to eliminate the anonymity traditionally associated with cryptocurrency transactions.
Exchanges operating within participating jurisdictions must now maintain complete user transaction records, including asset types, acquisition dates, costs, disposal dates, gains, expenses, and wallet addresses. This standardized approach establishes a unified global standard for cryptocurrency 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 mutual agreement.
The implementation of CARF reflects the growing consensus within the international community on cryptocurrency 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 cryptocurrency users worldwide will face stricter scrutiny and audit risks.
For cryptocurrency 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.