Global cryptocurrency asset regulation is undergoing significant changes. The Crypto Asset Reporting Framework (CARF), led by the Organisation for Economic Co-operation and Development (OECD), will come into effect in 2027, signaling an unprecedented wave of tax information transparency in the global crypto industry.

Currently, the situation is as follows: the first 48 jurisdictions have already required local crypto service providers to start collecting users' crypto wallet and transaction data from January 1, 2026. These preparations mainly pave the way for cross-border tax information exchange after 2027. The scope of institutions involved in data collection is quite broad—centralized trading platforms, some decentralized platforms, crypto ATMs, and even brokers are included.

The original intention of the CARF framework is clear: to enhance tax transparency, combat cross-border tax evasion and money laundering, and ensure that crypto traders worldwide fulfill their respective tax obligations. But that's not all. In addition to the initial 48 countries, another 27 jurisdictions such as Australia, Canada, and Switzerland plan to start collecting data in 2027 and officially join the information exchange network in 2028.

It is worth noting that industry insiders generally believe that although CARF is officially positioned for tax purposes, the collected data is very likely to be used for other purposes in the future—such as identity verification, anti-money laundering monitoring, and criminal investigations. This will have a profound impact on the original anonymity features of the crypto industry and the compliance ecosystems in various regions. In other words, this data collection storm will reshape the way the global crypto market operates.