🚨 INSIGHT: Pushback grows on OECD’s crypto reporting framework
Crypto firms in Hong Kong warn that adopting the OECD’s Crypto-Asset Reporting Framework (CARF) could create serious legal and operational risks without clearer implementation guidance.
KEY DETAILS:
• Framework: CARF (Crypto-Asset Reporting Framework)
• Requirement: Cross-border sharing of user & transaction data
• Target rollout: By 2028
• Concern: Legal liability + compliance uncertainty $LTC
WHY IT MATTERS:
• Raises privacy and data-sovereignty risks for crypto firms
• Could increase compliance costs and slow innovation $ENSO
• Signals friction between global tax coordination and local crypto hubs $ZKC
BOTTOM LINE:
Regulators Want Transparency.
Firms Want Clarity.
Without Clear Rules, CARF Risks Pushing Crypto Activity Offshore.
ENSO
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