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CARF takes effect next year: Tax information interconnection across 48 countries, encrypted user privacy is no longer a secret
【ChainNews】Starting January 1st next year, the CARF (Crypto Asset Reporting Framework) will be officially implemented in 48 countries and regions, including major markets like the UK and the EU.
What does this mean? Simply put—exchanges will need to proactively collect your tax identification information and regularly report your asset holdings, transaction records, and other data to tax authorities. Tax agencies in different countries will also be able to exchange this information.
For platforms, this is a rule reshaping. For users, scrutiny will become stricter, and the space for tax evasion will be virtually eliminated. Many say this is the “watershed moment for compliance gaming.”
Your trading data and holdings will ultimately be accessible to tax authorities. So if you’ve previously engaged in “creative operations,” you now need to seriously consider the consequences. The rollout of this framework, to some extent, signals that the era of anonymity in crypto assets is truly over.
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48 countries coordinating? Now there's really nowhere to hide. Brothers, it's time to get serious.
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Alright, goodbye privacy. It's time to start honestly paying taxes, everyone.
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Creative operational space is gone. It feels like someone is panicking.
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This wave of regulatory oversight caught us off guard. The crypto world really can't go back to how it was before.
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The compliance watershed is indeed here. It feels like the next step will be real-name registration.
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Tax authorities are finally working together. Retail investors still can't escape.
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Data interoperability—try to hide it, but you can't keep it secret anymore.
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Another illusion of freedom has been shattered. Cryptocurrency is no longer "decentralized."
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48 countries moving in unison. The pace is really fast, catching us a bit off guard.
The implementation of CARF was actually expected; it was bound to happen sooner or later. For now, some people are still gambling on luck.
This wave has directly separated retail investors from institutional players. The exchanges now have to cooperate; there's no room for negotiation.
Those who evaded taxes in earlier years should start taking it seriously now. All the data is available; it just depends on when the tax authorities decide to dig up old cases.
In simple terms, on-chain data never disappears, and privacy has long been a joke.
Doing compliant business is still necessary; gambling on non-compliance is really not worth it.
Now DEXs are going to be popular, which CEX would still dare to require real identities?
Once CARF is implemented, how many people will have to pay back taxes, haha.
Those "creative maneuvers" from before probably won't sleep well now.
The era of anonymity is over; I saw it coming a long time ago.