Definition ∞ The CARF Standard refers to the Common Reporting Standard, a global framework for the automatic exchange of financial account information. This standard aims to combat tax evasion by increasing transparency between tax authorities. It mandates financial institutions to report information on non-resident accounts to their local tax authorities. This data is then exchanged with the relevant foreign tax authorities.
Context ∞ The CARF Standard is gaining prominence in international finance discussions, particularly as jurisdictions seek to regulate digital assets more effectively. News often covers proposals for expanding CARF to include crypto-asset reporting, impacting digital asset service providers. The implementation of such reporting requirements poses significant compliance challenges for the burgeoning crypto economy.
Blockchain Knowledge
Cryptocurrency Foundation
Cryptospace Newsfeed
