48 countries, including the UK, have agreed on the Crypto-Asset Reporting Framework (CARF), an OECD tax transparency standard. CARF mandates crypto platforms to share taxpayer information with tax authorities, aiming to combat tax evasion facilitated by the crypto market. Estimated tax non-compliance on crypto holdings is 55-95%. CARF, starting in 2027, builds on the successful common reporting standard used for traditional assets, which has recovered nearly £100bn in tax revenue since 2014.