Introducing CARF - The OECD's Crypto-Asset Reporting Framework

Key issues for Financial Service Providers and how to prepare for 2026

Introduction

The recent proliferation of crypto-assets and its uses have transformed the international financial landscape, offering innovative opportunities for payments, investment and Decentralised Finance (DeFi). At the heart of it, crypto-assets are an alternative way of storing value, with transfers and payments occurring through a peer-to-peer system. In other words, users can send and receive value directly without engaging an intermediary such as a bank. The evolution of a purely electronic, digital-based economy presents significant challenges, particularly for tax transparency and regulatory compliance. The Organisation for Economic Co-operation and Development (OECD) has responded by introducing the Crypto-Asset Reporting Framework (CARF), which is a global initiative designed to enhance tax compliance and curb tax evasion in the crypto-asset space. Guernsey, together with a