South Korea Joins Global Effort to Implement Crypto Asset Repository Framework (CARF)

South Korea is set to join the OECD’s initiative to expand the Crypto Asset Repository Framework (CARF), as announced by the Ministry of Strategy and Finance. This move aligns Korea with 48 other countries, including major players like France, Germany, Japan, the United Kingdom, and the United States. The joint statement expresses a collective commitment to implementing CARF through timely domestic legislation, aligning with the OECD’s 2027 exchange launch schedule. The statement encourages other countries to follow suit. Korea aims to contribute to the global implementation of an automatic information exchange system for cryptoassets, showcasing its commitment to preventing offshore tax evasion in collaboration with the G7.

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