India is reportedly preparing to enforce global crypto reporting rules by adopting the OECD’s Crypto-Asset Reporting Framework (CARF). The move enables automatic crypto transactions data sharing, tighter compliance and better regulatory transparency.
India will be implementing CARF rules, effective April 2027, Business Standard reported.
“It means your foreign exchange accounts, wallets, and offshore trades won’t stay invisible,” KoinX wrote. “They’ll be automatically reported back to India through international data-sharing agreements.”
India’s announcement to officially join OECD’s Crypto Reporting Framework comes in parallel with South Korea’s plans to log and share crypto transactions globally.
India entered into the MCAA in 2015 for financial account data; however, the upcoming agreement is an extension to include digital assets. “This is the same global system that already exposes hidden foreign bank accounts. Now, it’s crypto’s turn,” KoinX stated.
Per a senior finance ministry official, India is expected to sign the Multilateral Competent Authority Agreement (MCAA) next year. The pact will provide the legal structure for the automatic exchange of tax-related information.
