CRYPTO-ASSET REPORTING FRAMEWORK, AMENDMENTS TO CRS, AND DAC 8

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The technological features of crypto assets have created new opportunities for tax evasion and other financial crimes. This problem is aggravated by the limited tax transparency for crypto assets.

To resolve this problem, the OECD has published CARF as a new international standard. CARF essentially extends the existing CRS framework — designed for the traditional financial industry — to the crypto industry.