The Organisation for Economic Co-operation and Development (OECD) has confirmed that 75 jurisdictions have formally committed to implementing the Crypto Asset Reporting Framework, marking a significant step toward global tax transparency in the fast-growing crypto sector. According to a new monitoring update, most participating countries aim to begin exchanging crypto asset tax information from 2027 or 2028.
The update, published by the Global Forum on Transparency and Exchange of Information for Tax Purposes, provides the clearest picture so far of how governments plan to extend automatic tax reporting rules to crypto assets. The framework is designed to close gaps that allow individuals and firms to hold crypto assets abroad without disclosing income or gains to their home tax authorities.
The Crypto Asset Reporting Framework, known as CARF, was developed by the OECD in response to concerns that crypto markets could undermine the Common Reporting Standard, which since 2014 has enabled the automatic exchange of information on foreign bank accounts. As crypto activity increasingly shifts outside the traditional financial system, tax authorities have faced growing blind spots.
Political backing and implementation timelines
The report underscores strong political backing from the G20, which has repeatedly called for swift implementation of CARF. A group of 58 jurisdictions has already signed a joint statement expressing the intention to transpose the framework into domestic law and activate exchange agreements in time for data sharing to start by 2027, subject to national legislative procedures.
Under the Global Forum’s commitment process, participating jurisdictions pledge not only to implement CARF but also to exchange information with all interested partners that meet confidentiality and data protection standards. The framework mirrors the structure of the Common Reporting Standard but applies specifically to crypto asset service providers rather than banks and other traditional financial institutions.
The OECD notes that the majority of jurisdictions identified as hosting significant crypto asset service providers have now committed to the framework. However, it also acknowledges that some relevant jurisdictions have yet to sign up, and says engagement efforts are ongoing to ensure a level playing field for governments and businesses.
Broad scope for crypto service providers
A key feature highlighted in the report is the broad definition of reporting crypto asset service providers. The framework applies not only to exchanges but to any business that facilitates crypto asset transactions, including platforms acting as intermediaries or counterparties. Nexus rules are similarly wide, capturing providers based on tax residence, incorporation, management location, or a regular place of business.
The OECD argues that this design limits opportunities for regulatory arbitrage. Even if a provider relocates to a jurisdiction that has not implemented CARF, it may still fall under reporting obligations if it retains sufficient links to participating countries.
What happens next
The monitoring update is based on information available as of late November 2025, and the OECD cautions that implementation plans may continue to evolve. The next phase will focus on translating political commitments into domestic legislation, building technical systems, and negotiating exchange agreements between tax authorities.
For Europe, where crypto regulation is already advancing through frameworks such as MiCA, CARF adds an important tax transparency layer. If implemented as planned, it would mark the first time that cross-border crypto transactions are subject to systematic, automatic reporting on a global scale.