Львиная доля криптотрейдеров под контролем: ЕС готовится к внедрению CARF Translation: Majority of Crypto Traders Under Surveillance: EU Prepares for CARF Implementation

Starting January 1, 2026, the European Union will implement the DAC8 directive, which introduces the Crypto-Asset Reporting Framework (CARF). Cryptocurrency exchanges, brokers, and custodial services will begin reporting user transaction data to tax authorities.

As of December 4, a total of 75 jurisdictions have committed to adopting the standard, according to a report from the Organisation for Economic Co-operation and Development (OECD).

CARF is a reporting standard developed by the OECD at the behest of the G20. It expands the existing Common Reporting Standard (CRS) to include the cryptocurrency sector.

The CARF framework mandates that cryptocurrency exchanges, brokers, and custodial wallets report user transaction activities: exchanges of cryptocurrency for fiat, transactions between crypto-assets, and transfers. This information will be automatically shared with the tax authorities in the countries where the users reside.

“CARF is a logical step forward in the fight against tax evasion. Previously, tax authorities could track foreign bank accounts through the CRS, and now a similar mechanism is being applied to cryptocurrencies. For compliant users, this will not change anything, but the era of ‘grey zones’ in the crypto industry is coming to an end,” commented Max Gnatyschin, head of operations at Toobit in the CIS.

The CARF framework includes Reporting Crypto-Asset Service Providers, which are both individuals and entities involved in cryptocurrency exchange services. These providers are required to collect information on their clients’ tax residency and report transaction data to the relevant authorities in their jurisdictions. The information will then be automatically transmitted to the jurisdictions where the users are tax residents.

Timelines vary by region. In the EU, cryptocurrency exchanges will begin data collection on January 1, 2026, with the first data exchange between tax authorities scheduled for 2027.

Out of the 75 jurisdictions committed to CARF, 53 have already signed the multilateral CARF MCAA agreement, which provides a legal framework for data exchange.

Singapore and several countries in the Asia-Pacific region have opted for a more cautious approach: the implementation has been delayed until 2027, with the first exchange expected in 2028. This allows local regulators extra time to adapt.

In parallel with CARF, the OECD has updated the CRS to version 2.0. The two standards complement each other:

Both frameworks include provisions against dual reporting. If an asset is subject to both regulations, priority is given to the CRS 2.0.

Earlier, the IMF warned about global financial risks due to stablecoins.