Forty-seven countries, including the United States, the United Kingdom, France, and Germany, have committed to implementing a crypto asset reporting framework by 2027 to combat tax evasion

ChainCatcher news, according to Cointelegraph, 47 countries including the United States, the United Kingdom, Australia, Brazil, Canada, France, Germany, Greece, Italy, Japan, South Korea, and Switzerland have committed to authorize the implementation of the Crypto Asset Reporting Framework (CARF) by 2027. This is a new international standard for the automatic exchange of information among tax authorities; it will be incorporated into their domestic legal systems to enhance the ability to ensure tax compliance and combat tax evasion.

In addition, these countries also invited other jurisdictions to join in a joint statement to strengthen the global automatic information exchange system and combat tax evasion.