UAE Commits to Global Crypto Tax Reporting Framework, Launches Industry Consultation

The United Arab Emirates has taken a significant step toward integrating cryptocurrency into global tax systems. On Sunday, the UAE Ministry of Finance signed the Multilateral Competent Authority Agreement under the OECD's Crypto-Asset Reporting Framework (CARF). This move follows the nation's initial announcement in November 2024 and sets the stage for automatic exchange of crypto tax information with international authorities.

Implementation will begin in 2027, with the first international tax data exchanges expected in 2028. The framework establishes standardized reporting mechanisms for crypto-asset activities across borders, providing regulatory clarity while maintaining transparency. "This ensures the UAE offers certainty to the crypto sector while upholding international cooperation principles," officials stated.

Concurrently, the UAE launched an eight-week public consultation on September 15, inviting crypto businesses, investors, and stakeholders to provide input on implementation challenges and compliance requirements. The MOVE signals the Gulf state's commitment to balancing innovation with fiscal responsibility as digital assets gain mainstream traction.