Argentina has joined a global network of over 77 jurisdictions that have committed to implementing the Crypto Asset Reporting Framework (CARF), a set of standards developed by the Organization for Economic Co-operation and Development (OECD) for the automatic exchange of cryptocurrency transaction data between countries.
On September 14, the Global Forum on Transparency and Exchange of Information for Tax Purposes announced Argentina's agreement to fully implement the framework by 2029. Under this commitment, Argentina will share cryptocurrency user transaction data with international regulators and receive similar information on transactions conducted abroad.
What Data Will Be Shared
The information exchanged under CARF includes user identification data, cryptocurrency purchases and sales involving fiat currency, digital asset exchanges, payments made with digital assets, and transactions involving external addresses.
Implementation Timeline
Before international data exchanges can begin, Argentina must establish internal regulations and issue rules requiring virtual asset service providers (VASPs) to report this information to tax authorities. Data collection is expected to begin in 2028, with information sharing commencing in 2029.
The framework aims to create regulatory equivalency between fiat and cryptocurrency transactions, providing regulators with comprehensive data on both types of transactions, including international exchanges previously not required to report these movements to foreign tax agencies.
Global Adoption
With Argentina's participation, the CARF now encompasses 77 jurisdictions, including G20 countries. Other nations, including Japan and France, have also committed to implementing the framework.
