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OECD's July 2025 update to the Crypto-Asset Reporting Framework (CARF)

12/08/2025

The OECD's July 2025 update to the Crypto-Asset Reporting Framework (CARF) provides several key developments aimed at enhancing global tax transparency for crypto-assets:

Key Highlights from the July 2025 CARF FAQ Update

  1. Updated XML Schemas & User Guides
    1. The OECD released revised XML Schemas and User Guides to support the automatic exchange of information under CARF. These updates include technical adjustments to the schema approved in 2024, ensuring better data quality and interoperability between jurisdictions.
  2. Expanded Interpretative Guidance (FAQs)
    1. A new set of FAQs was issued to clarify implementation details. These aim to:
      1. Ensure consistent application of CARF across jurisdictions.
      2. Clarify that non-custodial and decentralised service providers can fall under the definition of "Reporting Crypto-Asset Service Providers".
      3. Address technical and operational questions from governments and industry stakeholders.
  3. Voluntary Adoption & Legal Status
    1. CARF remains a non-binding international standard, functioning as a recommendation under Article 5(b) of the OECD Convention.
    2. Countries must voluntarily adopt and transpose it into domestic law, which can lead to uneven enforcement and potential loopholes.
  4. Global Commitment
    1. As of late 2023, 48 countries and jurisdictions have pledged to implement CARF by 2027, signalling strong international momentum toward crypto tax transparency.

References

OECD releases data exchange formats for the global minimum tax and ...https://www.oecd.org/en/about/news/announcements/2025/07/oecd-releases-data-exchange-formats-for-the-global-minimum-tax-and-crypto-reporting-and-issues-updated-faqs.html

Crypto-Asset Reporting Framework and amended Common Reporting Standard ...https://www.oecd.org/en/about/news/announcements/2024/10/crypto-asset-reporting-framework-and-amended-common-reporting-standard-oecd-releases-it-format-for-transmitting-information-and-issues-interpretative-guidance.html

OECD Secretary-General Mathias Cormann welcomes pledge by 48 countries ...https://www.oecd.org/en/about/news/press-releases/2023/11/secretary-general-mathias-cormann-welcomes-pledge-by-48-countries-to-implement-global-tax-transparency-standard-for-crypto-assets.html

 

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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.  

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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.