The Ministry of Finance has signed a multilateral agreement among relevant authorities regarding the automatic exchange of information under the Cryptocurrency Reporting Framework (CARF). This follows its announcement in November of last year about its commitment to implement the framework.
According to the ministry’s statement, this framework is set to be effective in the country starting in 2027, with the first exchanges of information expected to commence in 2028.
The framework establishes a process for the automatic exchange of tax information related to cryptocurrencies, ensuring certainty and clarity within the cryptocurrency sector while upholding principles of global tax transparency.
In this context, the Ministry of Finance has urged all stakeholders, particularly those engaged in advisory services, brokerage, trading, custodianship, exchanges, and anyone involved in the cryptocurrency sector, to participate in a public consultation aimed at implementing the cryptocurrency reporting framework in the UAE. They are encouraged to share their insights and suggestions regarding potential impacts and any areas that may require further clarification.
The consultation period opened on September 15 and will last for eight weeks, concluding on November 8, 2025. It is conducted via a designated platform with the goal of formulating clear and effective regulatory guidelines based on expert opinions and stakeholder feedback that meet market needs.