According to reports from Wu, officials from India's Ministry of Finance have revealed that India will implement the OECD's Crypto Asset Reporting Framework (CARF) starting April 1, 2027, to bring residents' overseas cryptocurrency holdings under tax regulation. CARF will cover crypto exchanges, transfers, NFTs, stablecoins, and more, aiming to close tax evasion loopholes. Industry estimates show that India's crypto market trading volume is approximately $172 billion, and the user base is expected to exceed 107 million by 2025.
India to Implement Crypto Asset Reporting Framework in 2027 to Regulate Overseas Holdings
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