Countries Not Yet Committed to CARF

While 76 jurisdictions have committed to implementing CARF, a handful of significant countries remain outside the framework. Understanding who hasn't signed on—and why—matters for anyone tracking global crypto regulation.

The Non-Committed Jurisdictions

According to OECD data, the following jurisdictions identified as "relevant" for CARF have not yet made a commitment:

• Argentina
• Australia
• El Salvador
• India
• Philippines
• Vietnam
• Georgia

Notable Cases

India

India has one of the world's highest crypto adoption rates but hasn't committed to CARF. The country has its own crypto tax rules (including a 30% tax on gains and 1% TDS), but participation in international information exchange remains uncertain.

El Salvador

El Salvador made Bitcoin legal tender in 2021 and has positioned itself as crypto-friendly. Its absence from CARF aligns with its broader approach to crypto regulation.

Australia

Australia's absence is notable given its developed financial system and participation in other tax information exchange programs. Implementation may still happen, but no formal commitment has been made.

Does This Create "Tax Havens"?

Not necessarily. These countries still have their own tax laws that apply to residents. Being outside CARF means:

• Local exchanges won't automatically report to foreign tax authorities
• Tax authorities in other countries won't receive automatic data
• Individual tax obligations in your home country remain unchanged

Using a non-CARF exchange doesn't exempt anyone from their home country's tax laws. It may simply mean there's less automatic cross-border information sharing.

Could These Countries Join Later?

Yes. CARF commitments continue to grow, and political or economic factors could lead any of these jurisdictions to join in the future. The framework is designed to accommodate new participants.

The Bottom Line

With 76 jurisdictions now committed, CARF covers the vast majority of global regulated crypto activity. The non-committed jurisdictions are notable gaps, but they don't fundamentally undermine the framework's effectiveness.