Countries around the world will join forces to combat cryptocurrency tax evasion, and new regulations are expected to be implemented in 2027

Dozens of major countries have issued a joint statement assuring the public that these jurisdictions agree to the set of cryptocurrency tax rules developed by the OECD, namely the Crypto Asset Reporting Framework (CARF). These countries have stated that they intend to quickly convert CARF into domestic law and promptly initiate exchange agreements so that exchanges can begin operating by 2027. Jurisdictions that sign the Common Reporting Standard (CRS) will also implement amendments to that standard.