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India To Implement OECD’s Crypto-Asset Reporting Framework (CARF) by 2027
India To Implement OECD’s Crypto-Asset Reporting Framework (CARF) by 2027
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BTCCSquare news:
India is set to enforce the Crypto-Asset Reporting Framework (CARF) by April 2027, aligning with global efforts to enhance transparency and combat tax evasion in cryptocurrency transactions. The move targets offshore holdings, requiring exchanges to disclose detailed transaction data to tax authorities.
The initiative, rooted in OECD guidelines, aims to close loopholes that have allowed Indian investors to obscure offshore crypto activities. Gains on VIRTUAL digital assets (VDAs) will now face stricter reporting and taxation.
This overhaul reflects India's broader strategy to integrate international standards into its regulatory framework, signaling a shift toward greater accountability in the digital asset space.
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