#2026CryptoOutlook

The CARF cryptocurrency tax reporting system requires virtual asset service providers, whether exchanges, custodial services, crypto wallets, crypto ATMs, or brokers, to report transaction information to tax authorities, including sales, exchanges, and transfers of cryptocurrencies. If tax authorities gain the ability to share this information internationally, crypto investors will be able to "more effectively fulfill their tax obligations," making the fight against tax evasion more efficient, according to OECD.
Starting in 2027, tax authorities plan to exchange information received from crypto services across all EU countries, as well as in the United Kingdom and Kazakhstan. From 2028, Azerbaijan, Mexico, Mongolia, Singapore, Switzerland, Thailand, the United Arab Emirates, and Hong Kong (special region of China) will join the initiative, and from 2029 — the USA.
Regarding Argentina, El Salvador, Georgia, India, and Vietnam, these OECD member countries have not yet committed to implementing the CARF standard, clarified organization representatives. These countries are specifically noted in the document because they have not signed the agreement to apply CARF, despite their high level of cryptocurrency usage. In El Salvador, Bitcoin is recognized as legal tender, and the country is building its policy on the idea of financial freedom from the dictates of OECD or the International Monetary Fund (IMF).
Russia does not participate in the implementation of the CARF standard because it is not a member of OECD. The country interacted with the organization until 2014. In 2023, the Financial Action Task Force (FATF) excluded Russia from its members, and in 2024, FATF downgraded Russia’s rating due to insufficient regulation of cryptocurrencies. Amid sanctions from the USA, EU, UK, and other countries, OECD members do not intend to transfer crypto transaction data to the Federal Tax Service of Russia (FNS). Other sanctioned countries, including North Korea, also do not participate in automatic financial information exchange.
In December, the Brazilian tax authorities announced stricter reporting requirements for crypto assets, citing the growth of the monthly transaction volume on the local crypto market to $6–8 billion.