The cryptocurrency industry is迎来 a critical turning point. The international financial regulatory framework, the "Crypto Asset Reporting Framework," is no longer just talk on paper—this system will come into full effect in 2026, with the UK already testing the waters, and other jurisdictions following closely behind.

Strangely, the market remains surprisingly calm. No large-scale enforcement actions, no sky-high fines flooding the news, regulators seem to have hit the pause button. This calm creates a familiar illusion: "Nothing to worry about."

But if you've experienced the process of implementing the Common Reporting Standard (CRS), you'll immediately be alert. History is almost repeating itself.

CRS started like this—no thunderous enforcement, banks simply reported data as usual, tax authorities quietly operated systems to collect information. On the surface, everything was peaceful, no one was harassed. The real "liquidation" happened years later, in an unexpectedly subtle way—not through inspections or investigations, but through a series of gentle letters. The recipients happened to be the most confident and self-assured individuals from back then.

Those confident claims are now almost playing out the same way in the crypto world: exchanges are outside my jurisdiction, my identity can't be tracked, I’ve changed addresses and account names, on-chain data is too complex to understand, mismatched residential addresses are normal, not providing a taxpayer identification number is even safer...

All these assumptions are wrong. The design logic of CRS was never meant to catch you on the spot. It follows a process: first collect → then integrate → trace back → finally take action. This process takes time, but once started, it cannot be stopped.

The Crypto Asset Reporting Framework is following the same path, only with more advanced tools, more comprehensive data, and higher efficiency. Under this system, your identity is no longer defined by yourself.