India will implement the OECD's cryptocurrency reporting framework starting in 2027

ChainCatcher news, according to Business Standard, a senior official from the Indian Ministry of Finance revealed that India will implement the OECD's Crypto Asset Reporting Framework (CARF) starting from April 1, 2027, bringing the overseas cryptocurrency assets of its residents under tax regulation.

He stated that India is expected to sign the Multilateral Competent Authority Agreement (MCAA) next year—this agreement is a global framework for the automatic exchange of tax information. The official clarified that although India signed the MCAA agreement for financial account information in 2015, a separate agreement under the CARF framework is still required for crypto assets. To ensure the deployment is completed before the 2027 deadline, relevant legislative amendments and system preparations have been fully initiated.