The Ministry of Financial Services and Commerce has released a
consultation paper and draft Tax Information Authority
(International Tax Compliance) (Crypto-Asset Reporting Framework)
Regulations, 2025 ("CARF Regulations") for
industry feedback.
The CARF Regulations will implement the OECD's
Crypto-Asset Reporting Framework ("CARF") into Cayman
law, establishing a domestic legal framework for the automatic
exchange of tax information relating to crypto-assets in line with
international standards. This initiative complements the existing
Common Reporting Standard (CRS) regime and reflects Cayman's
commitment to global tax transparency and anti-money laundering
efforts.
CARF is designed to address the challenges posed by
crypto-assets, which can be transferred or held without traditional
intermediaries, reducing regulatory visibility. Under the draft
Regulations, relevant crypto-asset service providers –
including exchanges, brokers, and dealers – will be
