Business Standard

OECD releases global framework for exchange of info on cryptocurrencies

The exchange of information on cryptocurrency between countries will become automatic under the new framework propsed by OECD

Photo: Bloomberg

Photo: Bloomberg

BS Web Team New Delhi
The Organisation for Economic Cooperation and Development (OECD) has released a global tax reporting framework for cryptocurrencies. The framework will help keep track of cross-border transactions of crypto assets. 

The exchange of information between countries is proposed to be automatic under the new framework. Also, for due diligence, the exchanges will be asked to identify the customers. 

"The Crypto-Asset Reporting Framework (CARF) responds to a G20 request that the OECD develop a framework for the automatic exchange of information between countries on crypto-assets," OECD's statement read. 

The statement further added that crypto assets can be used for tax evasion because

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 11 2022 | 9:08 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to