CARF – Crypto-Asset Reporting Framework (OECD)

The Crypto-Asset Reporting Framework (CARF) is an international standard developed by the OECD for automatic exchange of information on crypto-asset transactions between tax authorities. CARF was adopted in 2022 and is expected to become effective in the first participating countries from 2027.

• Reporting entities: Crypto-Asset Service Providers (CASPs) — exchanges, brokers, wallet providers
• Covered assets: Cryptocurrencies, stablecoins, certain NFTs and CBDCs
• Data exchange: Automatic between tax authorities of participating countries
• Complementary to CRS: CARF complements the Common Reporting Standard for financial account information

CARF emerged from the recognition that the existing Common Reporting Standard (CRS) does not capture crypto-assets, as these need not be held through traditional financial intermediaries. The OECD began developing a dedicated framework in 2021.

In October 2022, the OECD published the CARF rules together with a revision of the CRS to capture crypto-assets held in traditional financial accounts. At the G20 summit in Bali (November 2022), CARF introduction was politically endorsed.

In November 2023, 48 countries committed to introducing CARF by 2027. By 2025, the number of committed jurisdictions had grown to 75. The EU integrates CARF through the DAC8 Directive (Directive on Administrative Cooperation) into European law.

CARF applies to Crypto-Asset Service Providers (CASPs) resident in or providing services to residents of a participating country, including:

• Crypto exchanges and OTC trading platforms
• Brokers and investment managers for crypto-assets
• Crypto wallet service providers
• Issuers of certain crypto-assets

Covered transactions:

• Exchange of crypto for fiat currency and vice versa
• Exchange between different crypto-assets
• Transfers of crypto-assets to external wallets

Excluded: purely technical infrastructure providers with no control over assets.

• Collect customer data: Name, address, tax identification number (TIN) and date of birth of users
• Report transaction data: Type, date, volume and fiat equivalent of each reportable transaction
• Annual reporting: To the tax authority of the country where the CASP is registered
• Automatic exchange: Tax authority transmits data to the home tax authority of the user
• Due diligence: Verification of the tax residency of each user
• Pre-existing customer obligations: Retrospective documentation of existing user relationships

1 correction:
- Wrong date for CARF publication: August instead of October 2022
3 updates:
- Missing development: October 2024 XML schema and interpretative guidance
- Missing development: DAC8 application start 01.01.2026
- Missing development: increase to 75 committed jurisdictions (2025)
1 clarification.