The leaders of the G20, the world’s 20 biggest economies, are pushing for a speedy implementation of a cross-border framework for crypto assets. The framework, known as the Crypto-Asset Reporting Framework (CARF), is set to facilitate information exchange between countries beginning in 2027. The CARF was first introduced in October 2022 by the Organization for Economic Cooperation and Development (OECD). It is designed to give tax authorities greater visibility into crypto transactions, as well as the individuals behind them.Under the proposed framework, countries would automatically exchange information on crypto transactions between jurisdictions annually, covering transactions on unregulated crypto exchanges and wallet providers. The European Union has already approved updated rules to adhere to the CARF, setting procedures for automatic information sharing between European governments for tax purposes.The G20 also endorsed recommendations from the Financial Stability Board (FSB) for the “regulation, supervision and oversight of crypto-assets activities and markets and of global stablecoin arrangements.” The recommendations set similar standards for stablecoins as commercial banks, and urge regulators to prohibit any activities hindering the identification of involved participants. Two-thirds of the world’s population lives in a G20 country, meaning the framework could have a significant impact on the global crypto industry.

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Information	Details
Geography	Global
Countries	🇦🇷 🇦🇺 🇧🇷 🇨🇦 🇨🇳 🇫🇷 🇩🇪 🇮🇳 🇮🇩 🇮🇹 🇯🇵 🇲🇽 🇸🇦 🇿🇦 🇹🇷 🇬🇧 🇺🇸
Sentiment	neutral
Relevance Score	9
People	None
Companies	Financial Stability Board (FSB), European Union, Organization for Economic Cooperation and Development (OECD), Crypto-Asset Reporting Framework (CARF), Global Forum on Transparency and Exchange of Information for Tax Purposes
Currencies	US Dollar, UXD Stablecoin, Euro, Ethereum, Bitcoin
Securities	None