The Global Forum on Transparency and Exchange of Information for Tax Purposes, which consists of 48 countries out of a total of 168 countries, has reached an agreement to share data on digital assets in accordance with the Crypto-Asset Reporting Framework (CARF). The actual data collection will begin in 2026, with the first sharing of information taking place in 2027.
The majority of participating countries are from Europe, totaling 31 nations. There are also noteworthy Asian participants, including Singapore, Japan, and South Korea. Interestingly, even territories of the United Kingdom, such as the Cayman Islands and Gibraltar, have joined the agreement. However, due to the limited number of member nations, several tax havens have not yet joined this initiative.
Source: The Register
TLDR: The Global Forum on Transparency and Exchange of Information for Tax Purposes has inked an agreement where 48 out of 168 countries will share data on digital assets based on the Crypto-Asset Reporting Framework. Data collection will commence in 2026, with the first information sharing slated for 2027. The majority of participating countries are from Europe, while notable Asian nations and UK territories have also joined. Some tax havens are still not part of the agreement.