The Ministry of Finance in the UAE has entered into a multilateral agreement for the automatic exchange of information based on the Crypto-Asset Reporting Framework (CARF), demonstrating its dedication to enhancing global tax transparency.
Last November, the UAE disclosed its plans to adopt this framework.
The implementation of CARF is set for 2027, with the inaugural exchanges of information anticipated in 2028.
This framework establishes a system for the automatic sharing of tax-related data concerning crypto-asset transactions, aiming to provide much-needed clarity and assurance for the industry while aligning with global transparency norms.
Public Engagement on Crypto-Asset Reporting
The ministry has also extended an invitation to various stakeholders, including advisory service firms, intermediaries, traders, custodians, and exchange platforms, to get involved in a public consultation regarding the implementation of CARF in the UAE.
This consultation commenced on September 15 and is set to be open for eight weeks, concluding on November 8, 2025.
As per the ministry, the purpose of the consultation is to develop clear and effective regulatory guidelines by integrating insights from experts and industry participants.