What is CARF?
The Crypto-Asset Reporting Framework (CARF) is a global tax transparency standard developed by the Organisation for Economic Co-operation and Development (OECD).
It requires crypto platforms to collect and report certain customer and crypto-asset activity information to tax authorities. Tax authorities may then share this information with other countries under international agreements, similar to how traditional bank accounts are reported today.
For customers in the European Economic Area (EEA), CARF has been implemented through the EU's Directive on Administrative Cooperation (DAC8), which brings crypto-asset reporting into the existing EU tax information exchange framework.
When does CARF apply?
CARF was released in 2022 and is now being implemented into local law across many countries.
In several major jurisdictions (including the EU and the UK), reporting is expected to begin from 2026, with the first reports submitted to tax authorities in 2027.
Exact timing depends on where you are tax-resident. We will notify you when CARF applies to you.
Why does CARF exist?
Crypto assets can be held and transferred across borders easily.
CARF was created to:
Improve tax transparency for crypto assets
Reduce tax evasion
Align crypto reporting with existing global standards such as CRS and FATCA
Who does CARF apply to?
CARF applies to:
Crypto-asset service providers (such as exchanges and brokers)
Individuals and entities that use these services
If you use our platform, we may be required to collect certain tax information and report eligible crypto-asset activity to tax authorities.
What crypto assets are covered?
CARF generally covers crypto assets used for investment or payment, including:
Cryptocurrencies (e.g. BTC, ETH)
Stablecoins
Certain NFTs
Tokenized real-world assets
Some assets may instead be reportable under other frameworks (such as CRS or FATCA).
When is my tax information collected?
Tax information may be collected at different times depending on when you open your account.
New users
If you open an account after CARF becomes applicable in your jurisdiction, you will be required to provide tax residency information and a Tax Identification Number (TIN) during onboarding or before you can conduct certain transactions on our platform.
Existing users
If you opened your account before CARF applied, you may be asked to provide or confirm the same information later. We will notify you in advance and guide you through the process.
What customer information may be reported?
The information is collected through verification and tax self-certification. Depending on your situation, we may be required to report the following:
Name
Address
Date of birth
Country(ies) of tax residence
Tax Identification Number(s) (TINs)
Entity classification (for businesses)
Controlling person details (for certain entities)
What crypto activity is reported?
CARF reporting is aggregated, not transaction-by-transaction.
Reportable activity may include aggregated totals of:
Crypto purchases and sales
Exchanges between crypto assets
Transfers into and out of the platform
Certain crypto-related income (such as staking rewards)
Are individual transactions or wallet addresses reported?
No.
Individual trades, transfers, and wallet addresses are not reported as part of standard CARF reporting. Only aggregated totals for the reporting year are reported.
Are transactions from before CARF applied reported?
No.
CARF does not require reporting of crypto-asset activity that occurred before it becomes applicable in your jurisdiction (for example, transactions before 2026 in many regions).
How is this information used?
We report required CARF information to the relevant local tax authority based on where the service is provided.
That authority may share the information with tax authorities in other countries where you are tax-resident, under international data-exchange agreements.
How does CARF relate to CRS and FATCA?
CRS covers traditional bank accounts and investments
FATCA covers U.S. taxpayers’ financial accounts
CARF covers crypto assets
These frameworks operate alongside each other to provide comprehensive tax transparency.
What do I need to do?
You may be asked to:
Confirm your tax residency
Provide your Tax Identification Number (TIN)
Update your information if your tax situation changes
Keeping your information up to date helps ensure uninterrupted access to services.
What is a Tax Identification Number (TIN) and where can I find mine?
A Tax Identification Number (TIN) is a unique identifier assigned to you by your country's tax authority for tax administration purposes. Each country has its own format for TINs. In many countries, your TIN may be your national identification number, social security number, or a dedicated tax number. If you are unsure of your TIN, you can usually find it on tax correspondence, tax returns, or payslips, or by contacting your local tax authority.
What if my country does not issue TINs?
Some countries do not issue TINs to all residents, or may use alternative identifiers. If your country does not issue a TIN, please indicate this when completing your tax self-certification. You may be asked to provide an alternative form of identification or a reason code explaining why a TIN is not available. We will guide you through this process.
What happens if I don’t provide the required information?
If the required information is not provided within the applicable timeframe, we may be legally required to restrict certain account activities until the information is received.
Does CARF mean my crypto is taxed automatically?
No.
CARF is a reporting framework, not a tax. CARF does not change your underlying tax obligations and you remain responsible for declaring your crypto-asset income, gains, and losses in accordance with the tax laws of your country(ies) of residence. If you are uncertain about your tax obligations, we recommend consulting a qualified tax advisor. Tax authorities may use reported information to compare it with what you declare in your tax filings.
Which countries will receive my reported information?
Your crypto-asset information will be reported to the tax authority of the State where the platform is licensed or operates. That tax authority will then automatically exchange your information with the tax authorities of any other State(s) where you are tax-resident. If you are tax-resident in multiple countries, each relevant tax authority may receive your information.
I am tax-resident in multiple countries. How is my information handled?
If you are tax-resident in more than one country, you should declare all countries of tax residence when providing your tax self-certification. We will report your information to the relevant local tax authority, which may then share it with each country where you have indicated tax residency. It is your responsibility to ensure you comply with tax obligations in all countries where you are tax-resident.
How often will my information be reported?
CARF reporting is conducted on an annual basis. Your aggregated crypto-asset activity for each calendar year will be reported to the relevant tax authority in the following year.
What should I do if my tax residency changes?
If you move to a different country or your tax residency changes for any reason, you should update your tax information in your account as soon as possible. Accurate and up-to-date information ensures that reports are sent to the correct tax authorities and helps you avoid potential compliance issues. You can update your details in your account settings or by contacting support.
How is my data protected?
CARF reporting follows strict data protection and security standards.
Your information is shared only with government authorities as required by law. We do not share your data with third parties outside these legal obligations.
Need more help?
If you have questions specific to your account or tax situation, please contact support.
Important Tax Disclaimer:
This page is provided for general informational purposes only and does not constitute tax, legal, or financial advice. The information contained in these FAQs is intended to help you understand your obligations under the Crypto-Asset Reporting Framework (CARF) and related regulations, but it should not be relied upon as a substitute for professional advice tailored to your individual circumstances.
Tax laws and reporting requirements vary by jurisdiction and may change over time. We strongly recommend that you consult a qualified tax advisor, accountant, or legal professional if you have questions about your specific tax obligations, the tax treatment of your crypto-asset transactions, or how CARF reporting may affect your personal or business tax situation.
We do not provide tax advice, and nothing on this page should be interpreted as such. Any decisions you make based on the information provided here are made at your own risk.