The OECD has introduced the Crypto-Asset Reporting Framework (CARF) alongside amendments to the Common Reporting Standard (CRS) following a comprehensive review. The CARF aims to enhance global tax transparency concerning the rapidly evolving crypto-asset market, ensuring that jurisdictions exchange vital tax-relevant information on crypto-assets in a standardised manner. Notably, the CRS amendments extend reporting requirements to include specific electronic money products and central bank digital currencies, thereby closing gaps in existing frameworks and increasing the efficacy of tax compliance measures.

These updates also strengthen due diligence and reporting protocols while accommodating indirect investments in crypto-assets via derivatives and investment vehicles. By focusing on systematic improvements and clear compliance obligations, the OECD seeks to mitigate tax evasion risks associated with crypto-assets, further promoting a level playing field in international taxation and reinforcing commitments to transparency and accountability.