A coordinated push to harvest standardized crypto tax data is now underway as dozens of jurisdictions prepare to roll out the OECD’s Crypto-Asset Reporting Framework (CARF). What’s happening and when - The OECD says 48 jurisdictions have committed to start collecting standardized crypto transaction and user data from January 1, 2026. The first automatic cross-border exchanges of that information are expected in 2027. - A second group of 27 jurisdictions targets January 1, 2027 for domestic collection, with information exchanges slated for 2028. - Some countries plan staggered rollouts because of local legislative calendars. Who must report and what will be collected - The rules will require certain service providers — major exchanges, some broker platforms, crypto ATMs and some custody services — to capture and retain detailed records. The OECD monitoring update specifies the data fields that must be gathered and stored for future reporting. - Required data include account and identity details, users’ tax residency, wallet-level transaction histories, balances, transfers and gains. That data will be formatted for automatic exchange between tax authorities once the exchange phase begins. - Tax offices will receive annual reports covering listed accounts, helping them enforce existing tax laws. Industry response and practical impacts - Exchanges are already changing onboarding forms and compliance systems to verify tax residency and log more granular wallet activity. The UK has moved quickly to mandate detailed purchase-and-sale records for in-scope users. - Smaller platforms face practical burdens: system upgrades, new record-keeping, or hiring compliance staff to track the expanded data set. - Privacy advocates and some segments of the crypto industry warn the depth and retention of sensitive transaction records raises questions about who can access them and how long they’re stored. Legal teams are assessing how domestic data-privacy laws will intersect with automatic information exchange. What this means for users - Everyday crypto users should expect more questions when opening accounts and clearer record-keeping requirements from providers. - CARF itself does not create new taxes; it supplies tax authorities with the data needed to detect and enforce existing tax obligations, which could expose past reporting gaps. Bottom line The CARF rollout represents a major step toward treating crypto transactions like other cross-border financial accounts for tax transparency. Timing and implementation will vary by country, but the direction is clear: standardized, automatic reporting of crypto activity is becoming the global norm. (Image: Unsplash; chart: TradingView) Read more AI-generated news on: undefined/news