The UAE has signed an agreement for the automatic exchange of cryptocurrency tax data, which will launch the framework in 2027

ChainCatcher news, according to Cointelegraph, the UAE Ministry of Finance has announced that it has signed the Multilateral Competent Authority Agreement for Automatic Exchange of Information under the Crypto Asset Reporting Framework (CARF), formally committing to implement the global digital asset reporting regime of the Organisation for Economic Co-operation and Development (OECD).

The framework will establish an automatic exchange mechanism for tax-related information on crypto asset activities among participating jurisdictions to enhance international transparency and tax compliance cooperation. The UAE Ministry of Finance stated that the framework will be launched in 2027, with preliminary information exchange expected to begin in 2028. The UAE joins 50 jurisdictions that have committed to implementing CARF in the coming years, including countries such as New Zealand, Australia, and the Netherlands. Previously, South Korea had also finalized the implementation of the CARF agreement.