What are CARF and DAC8?
CARF is the OECD’s Crypto-Asset Reporting Framework. It is a global standard under which crypto-asset service providers report their customers’ transactions to tax authorities, which then exchange that information. DAC8 is the EU directive on crypto-asset reporting, based on that standard.
As of October 27, 2026, DAC8 rules have applied in the EU since January 1, 2026. The first exchanges between EU countries, covering 2026, take place by September 30, 2027. The CARF covers Bitcoin and requires providers to report transfers to wallets not known to belong to another provider.
Key facts
The Crypto-Asset Reporting Framework was approved by the OECD Committee on Fiscal Affairs on August 26, 2022.
Under Section II.A(3)(i) of the CARF, providers report the aggregate fair market value and number of units of transfers “to wallet addresses not known by the Reporting Crypto-Asset Service Provider to be associated with a virtual asset service provider or financial institution.”
The CARF defines a Reportable Retail Payment Transaction as a transfer of crypto-assets “in consideration of goods or services for a value exceeding USD 50,000.”
DAC8 is Council Directive (EU) 2023/2226 of October 17, 2023, amending Directive 2011/16/EU on administrative cooperation in the field of taxation.
The European Commission’s DAC8 page states that exchanges for the first reporting year, 2026, “will take place by 30 September 2027.”
In the Global Forum’s list of CARF commitments updated June 17, 2025, 52 jurisdictions committed to first exchanges by 2027. Another 17, including the United States, committed to first exchanges by 2028.
What is the Crypto-Asset Reporting Framework (CARF)?
The CARF is an international tax transparency standard for crypto-assets. Its full title is “Crypto-Asset Reporting Framework and Amendments to the Common Reporting Standard” (OECD, 2022). The OECD Committee on Fiscal Affairs approved it on August 26, 2022.
The OECD’s own publication page states that the CARF “provides for the automatic exchange of tax relevant-information on crypto-assets.” It also says the framework “was developed to address the rapid growth of the crypto-asset market.”
Does the CARF apply to Bitcoin?
Yes. The CARF defines a Crypto-Asset as “a digital representation of value that relies on a cryptographically secured distributed ledger or a similar technology to validate and secure transactions.” Bitcoin fits that definition.
Reporting covers “Relevant Crypto-Assets.” Under the CARF, that means any Crypto-Asset that is not a Central Bank Digital Currency or a Specified Electronic Money Product. It also excludes any Crypto-Asset the provider “has adequately determined” cannot be used “for payment or investment purposes.” Bitcoin is used for both, so it is a Relevant Crypto-Asset.
Who reports Bitcoin transactions under the CARF?
Reporting Crypto-Asset Service Providers, not individuals. The CARF defines a Reporting Crypto-Asset Service Provider as “any individual or Entity that, as a business, provides a service effectuating Exchange Transactions for or on behalf of customers, including by acting as a counterparty, or as an intermediary.”
In plain terms, that means businesses that exchange Bitcoin for customers, such as exchanges and brokers. A person holding their own Bitcoin is not providing that service to anyone.
What does an exchange report about your Bitcoin under the CARF?
It reports who you are and what you did, aggregated by asset. Under Section II.A of the CARF Rules, the provider reports:
your “name, address, jurisdiction(s) of residence, TIN(s) and date and place of birth”
its own “name, address and identifying number (if any)”
for each type of Relevant Crypto-Asset, such as Bitcoin, its “full name”
acquisitions and disposals “against Fiat Currency,” with “the aggregate gross amount paid,” the aggregate number of units and the number of transactions
acquisitions and disposals “against other Relevant Crypto-Assets,” with “the aggregate fair market value,” the number of units and the number of transactions
Reportable Retail Payment Transactions, with their aggregate fair market value, units and count
other transfers to you and by you, not covered by the items above
transfers “to wallet addresses not known by the Reporting Crypto-Asset Service Provider to be associated with a virtual asset service provider or financial institution,” with “the aggregate fair market value, as well as the aggregate number of units”
A TIN is a taxpayer identification number. The report covers totals per asset type, not a list of each individual trade.
What is a Reportable Retail Payment Transaction?
It is a large payment for goods or services made in crypto-assets through a provider. The CARF defines it as “a Transfer of Relevant Crypto-Assets in consideration of goods or services for a value exceeding USD 50,000.”
Are transfers to my own Bitcoin wallet reported under the CARF?
The withdrawal is reported, but the wallet’s contents are not. Section II.A(3)(i) requires your provider to report the aggregate fair market value and number of units of transfers it makes “to wallet addresses not known by the Reporting Crypto-Asset Service Provider to be associated with a virtual asset service provider or financial institution.”
A withdrawal from an exchange to your own wallet fits that description. The exchange reports the total value and units of those withdrawals for the year.
What happens after that is outside the report. The CARF places its obligations on Reporting Crypto-Asset Service Providers. A transfer between two wallets you control, with no provider involved, leaves no one with a duty to report it.
What is DAC8?
DAC8 is the EU’s crypto-asset reporting directive, based on the CARF. It is Council Directive (EU) 2023/2226 of October 17, 2023, which amends Directive 2011/16/EU on administrative cooperation in the field of taxation. EUR-Lex records its first date of entry into force as November 13, 2023.
The European Commission’s DAC8 page states that “DAC8 provides for automatic exchange of information on crypto-assets between EU countries.” It adds that the rules are “based on the OECD’s international standard Crypto-Asset Reporting Framework (CARF).”
The Commission notes that the OECD’s CARF Commentaries and FAQs can serve as interpretive material for DAC8, to the extent the two texts are aligned.
When does DAC8 reporting start?
It covers activity from January 1, 2026. The Commission’s DAC8 page gives three dates:
December 31, 2025: “EU countries will have to transpose it by 31 December 2025.”
January 1, 2026: the rules “enter into force on 1 January 2026.”
September 30, 2027: “the exchanges relating to the first reporting year (2026) will take place by 30 September 2027.”
Who reports under DAC8?
Reporting Crypto-Asset Service Providers. The Commission describes them as “both individuals and entities that provide services effectuating exchange transactions in relevant crypto-assets.”
How does one EU country apply DAC8?
Through national law. Portugal is an example. Law 26/2026 of June 3, 2026 transposes Directive (EU) 2023/2226 into Portuguese law.
Under the amended Article 124-A of Portugal’s Personal Income Tax Code, reporting crypto-asset service providers must send the Tax Authority information on users resident in Portugal. The deadline is May 31 each year, covering the previous calendar year.
Which countries have committed to the CARF?
A large and growing group. The Global Forum’s list of jurisdictions committed to implement the CARF, updated June 17, 2025, breaks the commitments down as follows:
52 jurisdictions listed under first exchanges by 2027
17 jurisdictions listed under first exchanges by 2028, a group that includes the United States
Commitments have continued since. The Global Forum has since announced that Argentina has committed to implement the CARF and to “start automatic exchange of information on crypto-asset transactions by September 2029.”
What do CARF and DAC8 mean for a Bitcoin holder?
They change what your tax authority knows, not what you may do with your Bitcoin. The CARF rules, on which DAC8 is based, point to a few clear consequences:
If you use a reporting provider, expect your identity, tax residence and TIN to be reported each year with your Bitcoin totals.
Buys and sells against fiat are reported as aggregate amounts, units and transaction counts per asset.
Withdrawals to wallets the provider does not link to another provider or financial institution are reported as an aggregate value and number of units.
Payments for goods or services above USD 50,000 made through a provider are reported as Reportable Retail Payment Transactions.
Transfers between wallets you control, with no provider involved, are not covered by a provider’s report.
In the EU, 2026 is the first reporting year, and tax authorities exchange that data by September 30, 2027.
3. Q&A
What is the CARF?
The CARF, or Crypto-Asset Reporting Framework, is the OECD’s international tax transparency standard for crypto-assets, approved on August 26, 2022. It requires crypto-asset service providers to report customer information and transaction totals to tax authorities, which exchange the data automatically with other participating jurisdictions.
Does DAC8 apply to Bitcoin?
Yes. The European Commission states that DAC8 covers providers of exchange transactions in relevant crypto-assets and is based on the CARF. Under the CARF, a Crypto-Asset relies on a cryptographically secured distributed ledger, and Bitcoin, used for payment and investment, is a Relevant Crypto-Asset.
When did DAC8 reporting start?
DAC8 rules entered into force on January 1, 2026, according to the European Commission. EU countries had to transpose the directive by December 31, 2025. The first exchanges between EU tax authorities, covering 2026, take place by September 30, 2027.
Is a withdrawal to my own Bitcoin wallet reported under the CARF?
Yes, as an annual total, not transfer by transfer. Under Section II.A(3)(i) of the CARF, providers report the aggregate fair market value and number of units of transfers to wallet addresses not known to be associated with a virtual asset service provider or financial institution.
Are transfers between my own wallets reported?
Not by a provider, if none is involved in the transfer. The CARF places reporting obligations on Reporting Crypto-Asset Service Providers, defined as businesses providing services effectuating exchange transactions for customers. A move between two wallets you control involves no such provider.
Has the United States committed to the CARF?
Yes. In the Global Forum’s list of CARF commitments updated June 17, 2025, the United States appears among the 17 jurisdictions undertaking first exchanges by 2028. Fifty-two jurisdictions are listed for first exchanges by 2027, and Argentina later committed to begin by September 2029.
This article is general information and not legal advice.
CARF and DAC8 standardize reporting, but how each country taxes Bitcoin still differs. Compare more than 140 countries on The Bitcoin Act’s interactive Global Bitcoin Regulatory Map: https://thebitcoinact.xyz/bitcoin-legal-map
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