Tax authorities in 77 countries will start comparing records in 2028. Every crypto transaction you make on-chain will be automatically shared 🦖
⚖️ ⏰ 消息群里第一时间说
Australia has just released a draft bill to formally incorporate the OECD’s Crypto-Asset Reporting Framework into national law, while also establishing a domestic crypto reporting system. Public consultation is open until October 28.
Australia is one of 77 jurisdictions that have committed to adopting this framework. The first cross-border exchange of crypto tax data is expected to begin in 2028.
First, let’s clarify what this is. It’s called CARF, short for the Crypto-Asset Reporting Framework. Approved by the OECD in August 2022, its goal is straightforward: to close tax loopholes created by crypto assets. The approach is much like the Common Reporting Standard used in traditional finance—only this time, the focus is on crypto.
This has been a long time coming. Australia first announced its intention in November 2023, held a round of public consultation at the end of 2024, and only formally announced implementation in its 2025–26 Mid-Year Economic and Fiscal Outlook. Nearly five years will have passed between the initial announcement and the actual exchange of data. Now the draft is on the table, and the process is officially entering the legislative phase.
The key change is who has the reporting obligation. In the past, holders had to report their own activity. Now the intermediaries—exchanges, custodians, and brokers—will be required to submit account and transaction details annually. Tax authorities will then cross-check the data behind the scenes. Whether you move assets from one platform to another or transfer them from a hot wallet to a cold wallet, those actions will be recorded and then checked by the system.
Australia isn’t the only country making moves. Russia has confirmed that it will ban direct peer-to-peer crypto trading from July 1, 2027. The EU’s DAC8 is also moving forward, and South Korea has just announced tighter financial cybersecurity regulations. Taken together, these developments show that global tax systems are moving beyond talk and into the systems-integration phase.
My take: 2028 is likely to be the first year that crypto tax authorities around the world truly start comparing records. For people who report their taxes honestly, this will have little impact. For those who rely on opacity to profit, it’s a game-changer. On-chain activity was never truly anonymous—it’s just that no one was willing to connect the dots. Now, more and more people are willing to do so. ⚖️🧾
Let’s discuss in the comments: do you think comprehensive crypto tax reporting will be a long-term positive or a short-term negative for the market? 📊
Tap my profile picture to watch the livestream.
Every day, I’ll bring you the latest on crypto regulation and tax developments—not just what’s happening, but also the logic and opportunities behind it 👀🚀
⚖️ ⏰ 消息群里第一时间说
Australia has just released a draft bill to formally incorporate the OECD’s Crypto-Asset Reporting Framework into national law, while also establishing a domestic crypto reporting system. Public consultation is open until October 28.
Australia is one of 77 jurisdictions that have committed to adopting this framework. The first cross-border exchange of crypto tax data is expected to begin in 2028.
First, let’s clarify what this is. It’s called CARF, short for the Crypto-Asset Reporting Framework. Approved by the OECD in August 2022, its goal is straightforward: to close tax loopholes created by crypto assets. The approach is much like the Common Reporting Standard used in traditional finance—only this time, the focus is on crypto.
This has been a long time coming. Australia first announced its intention in November 2023, held a round of public consultation at the end of 2024, and only formally announced implementation in its 2025–26 Mid-Year Economic and Fiscal Outlook. Nearly five years will have passed between the initial announcement and the actual exchange of data. Now the draft is on the table, and the process is officially entering the legislative phase.
The key change is who has the reporting obligation. In the past, holders had to report their own activity. Now the intermediaries—exchanges, custodians, and brokers—will be required to submit account and transaction details annually. Tax authorities will then cross-check the data behind the scenes. Whether you move assets from one platform to another or transfer them from a hot wallet to a cold wallet, those actions will be recorded and then checked by the system.
Australia isn’t the only country making moves. Russia has confirmed that it will ban direct peer-to-peer crypto trading from July 1, 2027. The EU’s DAC8 is also moving forward, and South Korea has just announced tighter financial cybersecurity regulations. Taken together, these developments show that global tax systems are moving beyond talk and into the systems-integration phase.
My take: 2028 is likely to be the first year that crypto tax authorities around the world truly start comparing records. For people who report their taxes honestly, this will have little impact. For those who rely on opacity to profit, it’s a game-changer. On-chain activity was never truly anonymous—it’s just that no one was willing to connect the dots. Now, more and more people are willing to do so. ⚖️🧾
Let’s discuss in the comments: do you think comprehensive crypto tax reporting will be a long-term positive or a short-term negative for the market? 📊
Tap my profile picture to watch the livestream.
Every day, I’ll bring you the latest on crypto regulation and tax developments—not just what’s happening, but also the logic and opportunities behind it 👀🚀