47 countries including the United States, Britain, France and Germany have pledged to implement a crypto-asset reporting framework by 2027 to combat tax evasion.

47 countries including the United States, the United Kingdom, Australia, Brazil, Canada, France, Germany, Greece, Italy, Japan, South Korea, and Switzerland have committed to authorize the implementation of the Crypto Asset Reporting Framework (CARF) by 2027, which is an automatic exchange between tax authorities new international standards for information; and will be incorporated into their domestic legal systems to improve the ability to ensure tax compliance and combat tax evasion. In the joint statement released by these countries, they also invited other jurisdictions to join in to strengthen the global automatic information exchange system and combat tax evasion. (Cointelegraph) Prior to news in October 2022, the Organization for Economic Cooperation and Development (OECD) released its new global tax transparency framework, the Crypto-Asset Reporting Framework (CARF), to provide reporting and information exchange on crypto-assets. CARF stipulates that crypto asset companies must make relevant reports in the countries where they do business. Transactions between related cryptoassets and fiat currencies, as well as transactions between one or more cryptocurrencies and transfers of cryptocurrencies (including retail payment transactions), will need to be reported.