What is CARF?
The Crypto-Asset Reporting Framework (CARF) is the OECD’s August 2022 international standard for automatic exchange of information on crypto-asset transactions between tax authorities. CARF extends the principles of the Common Reporting Standard (CRS) to crypto-assets, requiring “Reporting Crypto-Asset Service Providers” (RCASPs) to collect customer information and report transactions to their domestic tax authority, which exchanges with partner jurisdictions where the customer is tax-resident.
Scope and reportable transactions
- Crypto-asset categories: crypto-currencies, stablecoins, NFTs (where used as payment/investment), tokenised assets.
- Reportable transactions: exchanges between crypto and fiat, exchanges between crypto and crypto, transfers (including retail payment transactions above EUR 50,000 per transaction in some configurations).
- RCASP definition: exchanges, brokers, OTC desks, ATM operators, certain wallet providers offering services.
Implementation timeline
Many jurisdictions target 2026 first exchanges, with 2025 as the first reporting year for transactions. The EU has integrated CARF via DAC8 (Directive (EU) 2023/2226), with first reporting effective 1 January 2026. The UK, Singapore, Switzerland, and major OECD members have committed to CARF implementation.
Türkiye and CARF
Türkiye is an OECD member and has historically participated in CRS exchanges. While Türkiye has not yet announced explicit CARF adoption legislation as of writing, the regulatory direction of the 2024 Crypto Asset Service Provider law (Law No. 7518) aligns with CARF data collection patterns. Turkish CASPs should anticipate CARF-style reporting obligations as a near-term horizon.
Do: map your CASP customer base by tax residency; build CARF-ready KYC and transaction reporting infrastructure proactively.
Don’t: assume non-custodial wallet services are out of scope — CARF technical guidance keeps evolving and may capture broader service categories.