Armenia: Adopted Collective engagement to implement the Crypto-Asset Reporting Framework

On 10 November 2023, the United Kingdom Treasury announced that it had reached an agreement with 48 countries to implement the Crypto-Asset Reporting Framework (CARF) developed by the OECD, enabling the automatic exchange of information between tax authorities. Under the CARF, the information that crypto platforms submit to the national authorities will be shared to ensure tax compliance. The CARF is expected to take effect by 2027 after the signatory countries transpose the framework into their national legislation. The signatories include Armenia, Australia, Austria, Barbados, Belgium, Belize, Brazil, Bulgaria, Canada, Chile, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Japan, Korea, Liechtenstein, Lithuania, Luxembourg, Malta, Mexico, Netherlands, Norway, Portugal, Romania, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, and the United States of America.