Fighting cryptocurrency criminals through the Crypto-Asset Reporting Framework (CARF)

It’s no secret that some international criminals use cryptocurrency for illegal transactions and to evade tax authorities. The Organization for Economic Co-operation and Development recently proposed the Crypto-Asset Reporting Framework (CARF) to help the Group of 20 (G20) countries expose and stop these law breakers. The CARF is intended to bolster the existing common reporting standard with increased sharing between G20 tax administrations. The new framework also contains model rules that can be transposed into domestic legislation and suggestions for administrators tasked with implementing the rules. Read the full report, by clicking here.