Forty-eight jurisdictions have commenced the collection of cryptocurrency transaction data as part of the OECD's Crypto Asset Reporting Framework (CARF), with the aim of enhancing tax transparency. Starting January 1, 2026, crypto service providers, including exchanges, brokers, and certain DeFi platforms, are required to gather data on crypto-to-fiat trades, token swaps, and wallet transfers. This initiative is designed to mirror the transparency standards of traditional banking and aims to reduce underreporting and improve compliance. The first batch of jurisdictions will begin sharing this data in 2027, while a second group of 27 countries, including Australia, Canada, and Switzerland, will start data collection by January 1, 2027, for exchange in 2028. The CARF framework mandates that service providers collect verified user details and transaction information, including taxpayer identifiers, to ensure comprehensive coverage of crypto activities. The United Kingdom has already expanded its reporting requirements, with penalties for non-compliance reaching up to 300 pounds per user.