Chainalysis estimates potentially taxable crypto activity at $457 billion, but the OECD reporting framework covers only 14% of this on-chain activity. CARF, in effect since January 1, 2026, across 48 jurisdictions including the UK and the European Union, requires covered crypto platforms to collect customer and tax residency information. The framework focuses on intermediaries facilitating crypto transactions as a business, leaving much of decentralized finance outside the reporting scope. Tax authorities are closely monitoring AML regulatory developments to determine whether DeFi platforms or their operators should be classified as regulated crypto service providers.
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