The upcoming framework will affect users in several countries by automatically exchanging information about crypto transactions between jurisdictions on an annual basis.

Leaders of the 20 biggest economies in the world — collectively known as G20 — are pushing for a speedy implementation of a cross-border framework for crypto assets.

According to local reports in New Delhi — where the group members are attending a two-day summit — the framework will facilitate information exchange between countries beginning in 2027.

“We call for the swift implementation of the Crypto-Asset Reporting Framework (CARF) and amendments to the CRS [Common Reporting Standard]. We ask the Global Forum on Transparency and Exchange of Information for Tax Purposes to identify an appropriate and coordinated timeline to commence exchanges by relevant jurisdictions,” stated a consensus declaration signed by G20 leaders.

Several countries would be affected by the upcoming framework, including Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the United States, as well as the European Union. Two-thirds of the world’s population lives in a G20 country.

https://cointelegraph.com/news/g20-moves-forward-international-crypto-framework

The upcoming framework will affect users in several countries by automatically exchanging information about crypto transactions between jurisdictions on an annual basis.

Leaders of the 20 biggest economies in the world — collectively known as G20 — are pushing for a speedy implementation of a cross-border framework for crypto assets.

According to local reports in New Delhi — where the group members are attending a two-day summit — the framework will facilitate information exchange between countries beginning in 2027.

“We call for the swift implementation of the Crypto-Asset Reporting Framework (CARF) and amendments to the CRS [Common Reporting Standard]. We ask the Global Forum on Transparency and Exchange of Information for Tax Purposes to identify an appropriate and coordinated timeline to commence exchanges by relevant jurisdictions,” stated a consensus declaration signed by G20 leaders.

Several countries would be affected by the upcoming framework, including Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the United States, as well as the European Union. Two-thirds of the world’s population lives in a G20 country.

https://cointelegraph.com/news/g20-moves-forward-international-crypto-framework