UAE signs global agreement under Crypto-Asset Reporting Framework

The Ministry of Finance has signed the Multilateral Competent Authority Agreement on the Automatic Exchange of Information under the Crypto-Asset Reporting Framework (CARF), following its announcement last November of its intention to implement the framework.

CARF implementation in the UAE is scheduled to go-live in 2027, with the first exchanges of information expected in 2028.

The framework establishes a mechanism for the automatic exchange of tax-related information on crypto-asset activities, ensuring that the UAE provides certainty and clarity to the crypto-asset sector while upholding the principles of global tax transparency.

The Ministry of Finance invites all stakeholders, including advisory service providers, intermediaries, traders, custodians, exchange platforms and others active in the crypto-asset sector, to participate in the public consultation on CARF implementation in the UAE and to share their views and recommendations on its potential impacts and areas requiring further clarification.

The public consultation opened on September 15 and will remain open for eight weeks until November 8 via the designated link. It aims to develop clear and effective regulatory rules informed by the insights of experts and stakeholders, and aligned with market needs.