The first year of the global crypto tax framework begins: 48 countries jointly promote CARF, digital asset regulation enters a new era

As of January 1, 2026, a global cryptocurrency asset regulation framework officially enters into implementation. This international framework, developed by the Organisation for Economic Co-operation and Development (OECD), will fundamentally change the transparency rules for digital asset transactions, involving participation from 48 jurisdictions worldwide, marking a historic breakthrough in cryptocurrency tax regulation.

How the CARF Framework Reshapes the Global Crypto Tax System

The launch of the Crypto Asset Reporting Framework (CARF) represents a significant consensus among the international community on digital asset regulation. This framework establishes a unified global standard requiring participating jurisdictions’ crypto service providers—including centralized exchanges, decentralized exchanges, crypto ATMs, and various brokers—to start collecting and maintaining complete user transaction data from now on.

Specifically, exchanges participating in the framework must record detailed information for each transaction, including asset type, acquisition date, transaction costs, disposal date, gains, expenses, and related wallet addresses. This standardized data collection approach marks the transition of cryptocurrency trading from a relatively anonymous activity to an era of full transparency. The CARF framework officially takes effect in 2027, at which point tax authorities worldwide will begin automatic mutual data exchange.

Global Implementation Progress: Phased International Cooperation

Currently, 48 countries and regions are actively implementing this framework, including the UK, EU member states, Brazil, the Cayman Islands, and South Africa, among major economies. HM Revenue & Customs (HMRC) in the UK will initiate data exchanges with the EU, Brazil, and other participating countries based on mutual agreements. The United States plans to implement this framework in 2028, with data exchange starting in 2029.

Among the 75 countries committed to implementing the framework, 48 have entered the execution phase, with others to follow gradually. This phased approach has established an increasingly interconnected global tax enforcement system, ensuring that crypto users everywhere face consistent regulatory standards and audit risks.

User Response: From Passive Record-Keeping to Active Compliance

For digital asset holders, the changes brought by the new rules are tangible. Individuals must provide personal information to crypto service providers before the reporting deadline and properly retain detailed records of all transactions. Tax authorities have explicitly stated that non-compliance will result in severe penalties, with the cost of violations far exceeding previous levels.

The framework considers cryptocurrency transactions as taxable events, whether they involve direct sales, exchanges between different crypto assets, or participation in decentralized finance activities. This fundamentally alters how digital asset holders handle their tax obligations, requiring users to reassess their crypto investment strategies and tax planning.

Enhanced enforcement mechanisms also mean that the risks of underreporting or failing to report gains are sharply increased. In this era of gradually完善 global regulation, proactive compliance has become an inevitable choice for crypto asset holders.