CARF: Will It Help or Hurt Crypto Startups?
As the Crypto-Asset Reporting Framework (CARF) approaches, small fintech startups in Asia are facing a tough time. The compliance costs are increasing, and operational hurdles are piling up. But could these challenges actually lead to a level playing field for all? We take a deep dive into CARF, its compliance requirements, and what crypto payroll platforms must do to adapt.
What Is CARF and Why Does It Matter?
The Crypto-Asset Reporting Framework (CARF) is a global initiative from the OECD to boost tax transparency in crypto. It requires crypto service providers like exchanges and wallet operators to gather and report user tax information to tax authorities. This framework is a big deal because it’s the first major attempt to…
