Governments are accelerating coordinated oversight of cryptocurrency markets as a new international reporting regime takes hold, signalling tighter tax enforcement and pushing digital assets closer to mainstream financial regulation, the Financial Times reported.
According to the report, 48 jurisdictions have committed to begin their first exchanges of information under the Organisation for Economic Co-operation and Development’s (OECD) Crypto-Asset Reporting Framework (CARF), marking a coordinated first wave aimed at tackling tax evasion linked to cross-border crypto activity.
The framework is designed to enable automatic sharing of crypto-related tax data among participating authorities by 2027.
Implementation has already started in some markets.
In the United Kingdom, new rules took effect on Jan. 1 requiring major cryptocurrency exchanges to collect and report detailed customer transaction data, including purchase prices, disposal values, realised gains, and tax residency, to HM Revenue & Customs, the report said.
Jurisdictions in the initial group include much of Europe, parts of Asia, Afric,a and Latin America, as well as several offshore financial centres.
The OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes said a further 27 jurisdictions plan to commence exchanges by 2028, with the United States expected to begin participation in 2029.
Andrew Park, a tax investigations partner at Price Bailey, told the Financial Times the changes marked “the beginning of the end for crypto investors who thought they could invest and gain from crypto in secrecy from tax and other law enforcement agencies.”
He warned that investors in signatory countries such as the UK should ensure they are fully tax compliant as routine data sharing becomes standard.
Seb Maley, chief executive of tax insurance provider Qdos, described the framework as “a major shift in how crypto trading is monitored from a tax perspective,” adding that tax authorities would soon have far greater visibility over crypto gains.
Tax advisers said the expanded datasets would allow authorities to more easily identify undeclared profits, with crypto disposals potentially triggering capital gains tax or, in some cases, income tax and social security contributions.
The rollout of CARF mirrors earlier global efforts to curb offshore tax evasion and represents a decisive step in integrating digital assets into existing financial reporting systems.
While it may dampen the appeal of crypto for anonymity-seeking investors, the move could accelerate institutional acceptance by reducing regulatory uncertainty and aligning crypto markets with established tax and compliance norms.
