Posted 11/13/2023, 8:30:00 AM
48 Nations Agree to OECD Plan for Increased Crypto Tax Transparency by 2027
- 48 nations agree to implement OECD's Crypto-Asset Reporting Framework (CARF) by 2027 to increase tax transparency
- CARF aims to reduce use of cryptocurrency and tokenized assets for money laundering and tax avoidance
- CARF extends reporting requirements to crypto exchanges and other entities to share user data
- OECD developed CARF under its 168-member Global Forum on tax transparency
- Major nations like US, UK, Japan signed on, but some known tax havens did not fully commit