The Organisation for Economic Co-operation and Development (OECD), a global institution that promotes policies to improve world trade and economic progress, published a report on the implementation of its global crypto tax reporting standards, stating that 75 jurisdictions have now committed to the rules, including “the vast majority” of digital asset centers.
The December 2 report was produced by the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes (the ‘Global Forum’), which is the leading global body working on the implementation of international tax transparency standards. There are currently 140 jurisdictions that are members of the Global Forum, including G20 countries, OECD members, key international financial centers, and many developing countries.
When it comes to digital asset tax reporting, in June 2023, the OECD published the ‘Crypto-Asset Reporting Framework (CARF),’ which is a global tax transparency initiative designed to set a standard for tax reporting and improve the exchange of information between countries on digital asset transactions, to combat tax evasion and avoidance.
Since then, it has been working to encourage and help jurisdictions sign up to and implement the framework.
According to the OECD’s 2025 update report on this process, “to date, 75 jurisdictions have made a political commitment to implement the CARF.”
Among those jurisdictions that have signaled their commitment are a number of the world’s top digital asset jurisdictions—by adoption rate—including the United Kingdom, Brazil, Indonesia, Japan, and most European Union nations.
As part of CARF, all 75 signatory countries have also agreed to the automatic exchange of information (AEOI) between tax authorities, in relation to accounts maintained by financial institutions.
In other words, they’ve committed to sharing tax information between each other’s authorities to clamp down on multi-jurisdiction avoidance and evasion schemes, which can be particularly prevalent in the decentralized finance (DeFi) space.
“While more traditional financial institutions and financial products have historically been the subject of regulation and tax reporting, crypto-assets and the intermediaries that facilitate their use are only more recently coming into focus,” explained the OECD.
It added that “the risks of tax evasion and avoidance using crypto-assets are particularly acute when taxpayers hold and transact in crypto assets abroad, such as through foreign intermediaries, as it becomes more difficult for the tax authorities from the jurisdictions in which the taxpayers are resident to have visibility over their taxpayers’ income and wealth to ensure that it is being properly declared and subject to tax.”
CARF seeking an end to crypto tax schemes
To meet this challenge, the OECD worked with G20 countries to develop the CARF, one of the main facets of which is extending AEOI between tax authorities to the digital asset sector.
As explained in the report: “The CARF is consequently designed to ensure that tax authorities are equipped with the information they need on transactions in crypto-assets taking place abroad to ensure their taxpayers fulfil their tax obligations, in accordance with each jurisdiction’s domestic tax rules.”
Thus, the news that 75 jurisdictions have now committed to implementing the framework represents significant progress in the fight against tax avoidance and evasion in the global digital asset space.
However, there remains work to be done, with some notable absentees from the list of signatories, not least India, the United States, Pakistan, and Vietnam—the top four countries for crypto adoption, according to blockchain analytics firm Chainalysis’ 2025 global adoption index.
This was acknowledged by the OECD, which said in its report that it would continue to work toward bringing all important digital asset jurisdictions around the world under the CARF framework.
“As can be seen in the commitment table, the vast majority of jurisdictions that have been identified as hosting a relevant Crypto-Asset sector have made a political commitment to implement the CARF,” said the report. “This is not the case for all such jurisdictions and the Global Forum continues to engage with them to secure their commitments to implement the CARF and secure a level playing field for governments and business.”
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Next steps
The report emphasized that the international community’s move to swiftly implement the CARF is still in its early stages.
Nevertheless, it argued that “there has already been progress towards implementing the political commitments made and it can be expected that many jurisdictions will soon be further implementing the various components needed to commence exchanges under the CARF.”
For those who have already signed up, the OECD said that there is a general expectation that CARF will be implemented in time to commence exchanges under the framework from 2027 or 2028.
In the meantime, the OECD said the Global Forum would continue to oversee the implementation process to give all signed up jurisdictions the assurance that the key milestones necessary for CARF to function are delivered as planned.
Further, it said it would also continue to closely monitor developments in the digital asset market and identify any new “jurisdictions of relevance” that should be urged to commit to the CARF—if they have yet to do so.
Finally, the OECD committed to providing support to all Global Forum members on every aspect of CARF’s implementation, “to best support the move by the international community to AEOI under the CARF.”
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Source: https://coingeek.com/oecd-vast-majority-of-digital-asset-centers-join-global-tax-rules/
