OECD's Crypto-Asset Reporting Framework: What Does This Mean For Cayman Islands Entities With Activities Relating To Crypto-Assets?

Understanding the implications of CARF as implemented in the Cayman Islands

The Cayman Islands has committed to implementing the OECD's Crypto Asset Reporting Framework (CARF). CARF is being implemented in the Cayman Islands by the Tax Information Authority (International Tax Compliance) (Crypto-Asset Reporting Framework) Regulations, 2025, as gazetted on 27 November 2025 following industry consultation, which come into force on 1 January 2026.

As implemented in the Cayman Islands, CARF applies to entities which are incorporated, registered, established or regulated in the Cayman Islands, or have a place of effective management in the Cayman Islands, which as a business, provide a service effectuating exchange transactions for or on behalf of customers (Users), including by acting as a counterparty or intermediary or by making available a trading platform (Cayman Reporting Crypto-Asset Services Providers). This definition applies regardless of where Users are