Hong Kong launches CARF consultation to curb crypto tax evasion
Hong Kong opened a public consultation to implement the Crypto-Asset Reporting Framework (CARF) and to amend the Common Reporting Standard (CRS) for crypto assets. The consultation aims to compel service providers to collect and exchange tax-relevant crypto data as part of a wider effort to reduce cross-border tax evasion. Expanding CARF and CRS to cover […]
Web3 Foundations in the Cayman Islands Jump 70% Ahead of New CARF Reporting Requirements
The Cayman Islands has recorded a 70% year-on-year increase in Web3 foundation company registrations, rising from about 765 entities at the end of 2023 to over 1,300 by the end of 2024, with an additional 400+ recorded in early 2025. This rapid expansion coincides with the adoption of the OECD Crypto-Asset Reporting Framework (CARF) and […]