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Podcast: Offshore Tax with HTJ.tax
Episode: Introduction to the Crypto-Asset Reporting Framework (CARF)
Description: The Crypto-Asset Reporting Framework (CARF) represents the next major evolution in global financial transparency. It builds upon a lineage that started with FATCA, evolved through the Common Reporting Standard (CRS), and now extends to the world of digital assets.The Evolution:FATCA (Foreign Account Tax Compliance Act) — Launched by the U.S., FATCA was the original model for cross-border reporting. It forced non-U.S. financial institutions to disclose information about U.S. account holders or face a 30% withholding penalty on U.S.-sourced payments.CRS (Common Reporting Standard) — FATC...