With the introduction of the CARF reporting rules, the number of Web3 foundations in the Cayman Islands has surged by 70%

PANews, December 3—According to a Cointelegraph report, the latest data shows that the number of registered foundation companies in the Cayman Islands has soared by 70% year-on-year. By the end of 2024, the number of registered companies exceeded 1,300, and more than 400 new registrations have been added so far in 2025. These structures are increasingly being used as legal wrappers for decentralized autonomous organizations (DAOs) and serve as ecosystem managers for major Web3 projects. According to a press release from Cayman Finance, many of the world’s largest Web3 projects are now registered in the Cayman Islands, with at least 17 foundation companies holding reserves of more than $100 million. The surge in Web3 foundations coincides with a shift in Cayman Islands’ own regulatory policies, stemming from the implementation of the Crypto-Asset Reporting Framework (CARF) by the Organisation for Economic Co-operation and Development (OECD). The Cayman Islands has implemented this framework through new Tax Information Authority regulations, which will take effect on January 1, 2026.