The United Arab Emirates has officially signed the Multilateral Competent Authority Agreement under the Crypto-Asset Reporting Framework (CARF), according to a press release from the UAE Ministry of Finance. This follows the announcement they made last November of their intention to implement the framework.
Full implementation in the UAE is scheduled to ‘go-live’ in 2027, with the first exchanges of information expected in 2028.
What is CARF?
CARF is an international framework designed to allow the automatic exchange of tax-related information about crypto-asset activities between countries. This helps authorities detect and prevent tax evasion linked to crypto, while also providing clearer regulatory expectations for the crypto sector worldwide.
The Ministry of Finance is inviting parties in the crypto space, like advisors, intermediaries, traders, custodians, exchanges, etc, to take part in a public consultation. This sharing of views and recommendations began on 15 September 2025 and runs for eight weeks until 8 November 2025. The aim is to gather input to shape clear and effective regulatory rules, and to make sure the UAE’s framework fits market realities and needs.
By signing the agreement, the UAE is aligning itself with global tax transparency norms. For crypto businesses and users, this means more certainty around reporting obligations. For regulators and governments globally, it helps close loopholes in monitoring cross-border crypto transactions.
Earlier this month, South Korea too signed onto CARF, joining 48 countries in this comprehensive data-exchange initiative.