Canada expected to adopt international crypto-asset reporting framework (CARF) taxation by 2026

According to a supplementary document for the 2024 budget, Canada is expected to adopt the international crypto asset reporting framework (CARF) for taxation before 2026. CARF will impose new reporting requirements on crypto asset service providers (CASP), including cryptocurrency exchanges, crypto asset brokers and dealers, and crypto asset ATM operators, whether they are individuals or corporate entities.