The United States has committed to CARF, but with a longer timeline than other major economies. US data collection will begin in 2028, with first international exchanges in 2029.
Data Collection Starts: January 1, 2028
First Data Exchange: 2029
Why the Delay?
Several factors contribute to the US timeline:
Existing Domestic Requirements
The US already has domestic crypto reporting requirements through the IRS. US-based exchanges report to the IRS, and the infrastructure for international exchange requires additional coordination.
Regulatory Complexity
The US regulatory landscape for crypto involves multiple agencies (SEC, CFTC, FinCEN, IRS), and implementing international reporting standards requires coordination across these bodies.
Legislative Process
Unlike EU member states implementing a directive, US participation in CARF involves congressional processes and interagency rulemaking that take time.
What This Means for US Exchanges
US-based crypto platforms should note:
- Domestic IRS reporting continues as normal
- International CARF reporting adds to (not replaces) existing requirements
- Preparation should begin well before the 2028 collection date
What This Means for Non-US Platforms
For platforms outside the US serving American customers:
- Current reporting obligations depend on your jurisdiction
- Information about US customers may eventually flow to the IRS through CARF
- US tax residents remain subject to US tax law regardless of where they trade
The Global Picture
By 2029, when the US joins, essentially all major regulated crypto markets will be part of the CARF exchange network. The remaining holdouts will be a small number of jurisdictions that haven't committed to implementation.
Automate CARF Compliance
CARFDAC8 supports compliance across all 76 committed jurisdictions.