India Set to Join OECD’s Crypto Transactions Sharing Agenda by April 2027: Report
India is reportedly preparing to enforce global crypto reporting rules by adopting the OECD’s Crypto-Asset Reporting Framework (CARF). The move enables automatic crypto transactions data sharing, tighter compliance and better regulatory transparency.
India will be implementing CARF rules, effective April 2027, Business Standard reported.
India’s announcement to officially join OECD’s Crypto Reporting Framework comes in parallel with South Korea’s plans to log and share crypto transactions globally.
“It means your foreign exchange accounts, wallets, and offshore trades won’t stay invisible,” KoinX wrote. “They’ll be automatically reported back to India through international data-sharing agreements.”
India to Sign Multilateral Agreement for Exchange of Crypto Transactions Tax Info
Per a senior finance ministry official, India is expected to sign the Multilateral Competent Authority Agreement (MCAA) next year. The pact will provide the legal structure for the automatic exchange of tax-related information.
India entered into the MCAA in 2015 for financial account data; however, the upcoming agreement is an extension to include digital assets.
“This is the same global system that already exposes hidden foreign bank accounts. Now, it’s crypto’s turn,” KoinX stated.
Further, the ministry official noted that the legislative changes and system preparations are already underway to meet the 2027 deadline.
India to Expose Investors’ ‘Invisible’ Crypto Assets
The global crypto reporting agenda means that investors’ coins held in overseas exchanges will be flagged. Further, offshore centralized exchange (CEX) trades will be reported.
“Once the system is live, the reporting will be done not just for the current year but for past years as well,” the tax firm wrote, adding that the government can issue notices under multiple sections for previously undisclosed income.
As a result, KoinX has urged crypto investors to get compliant now by reporting their holdings honestly and filing accurately.
“If you’ve hidden offshore trades in the past, CARF gives the govt a time machine. Your “invisible” assets will suddenly light up,” it added.
The post India Set to Join OECD’s Crypto Transactions Sharing Agenda by April 2027: Report appeared first on Cryptonews.
