TLDR
- Crypto service providers in 48 countries have started collecting transaction data from January 1, 2026.
- The data collection is in preparation for the OECD’s Crypto-Asset Reporting Framework which will take effect in 2027.
- The framework requires exchanges, brokers, and crypto ATMs to report user transactions for tax enforcement purposes.
- A second group of 27 countries, including Australia and Switzerland, will start collecting data in 2027 for exchange in 2028.
- Hong Kong is seeking public input on implementing the framework and updating its tax reporting standards.
Crypto tax data collection has begun in 48 countries as part of early preparations for the Crypto-Asset Reporting Framework (CARF). Although CARF enforcement officially starts in 2027, jurisdictions are now mandating exchanges and service providers to gather transaction data. The Organisation for Economic Co-operation and Development (OECD) confirmed this rollout will support global tax transparency.
Jurisdictions Begin Early Crypto Data Collection
Participating countries have already instructed crypto platforms to record transactions starting January 1, 2026, for exchange in 2027. These countries include members of the G20 and several other financial hubs that have finalized or are finalizing legal mandates. The OECD said in November that many jurisdictions already have “the required legislation in place or are in the final stages of doing so.”
The framework applies to centralized exchanges, brokers, crypto ATMs, and some decentralized platforms that meet specified regulatory criteria. Service providers are now responsible for recording wallet addresses, transaction amounts, and user identification data. The goal is to give tax authorities access to user data to monitor global tax compliance.
Countries in the first group will begin exchanging information officially from 2027, based on the data gathered in 2026. OECD officials noted that crypto tax data collected under CARF will only be used for tax purposes. However, service providers must comply with local data laws while following the OECD’s standardized reporting protocol.
Second Batch of Countries Preparing for 2028 Exchange
A second group of 27 jurisdictions, including Australia, Canada, Switzerland, and Mexico, will delay implementation by one year. These countries must begin collecting transaction data by January 1, 2027, with exchanges scheduled for 2028. Authorities in these jurisdictions are updating tax codes and consulting with stakeholders to finalize the rollout.
Hong Kong is seeking public feedback to align its laws with CARF requirements and update local tax reporting standards. A government news release said the move is tied to its strategy to tackle cross-border tax evasion. Authorities are aiming to streamline compliance for crypto service providers before the 2027 collection deadline.
The delayed group must ensure readiness by 2027 to avoid non-compliance penalties during the first round of international data exchange. Each participating nation has committed to applying CARF equally to both domestic and cross-border crypto transactions. This phased approach helps align differing legal systems with the OECD framework.
Data Sharing to Support Global Crypto Tax Cooperation
CARF’s primary objective is to reduce crypto-related tax evasion by giving tax authorities access to cross-border transaction data. The system ensures that individuals and entities are held accountable, regardless of where they trade or hold crypto. G20 Finance Ministers have supported the plan since 2021 and accelerated development after OECD finalized rules in 2022.
By standardizing how countries collect and exchange data, CARF mirrors the Common Reporting Standard for traditional financial accounts. Authorities expect the crypto tax data to offer better insights into global crypto ownership and asset flows. TaxBit said in November that the collected data may also help identify anonymous wallets linked to criminal activities.
Crypto service providers must now adjust their infrastructure to meet compliance requirements and maintain consistent record-keeping. Countries involved are training enforcement teams to review the collected data for tax audits and investigations. The OECD emphasized that all exchanges under CARF will be automatic and annual.
Tax authorities will receive bulk data directly from crypto firms under legally binding reporting rules that differ by jurisdiction. This ensures a uniform approach while allowing each country to manage enforcement locally. As of now, all 48 early adopters are on track to meet data collection requirements before the 2026 deadline.
