India to implement OECD cryptocurrency reporting framework from April 2027

PANews reported on September 2nd that according to Business Standard, a senior Indian Ministry of Finance official revealed that India will implement the Organization for Economic Cooperation and Development (OECD) Crypto-Assets Reporting Framework (CARF) starting April 1, 2027, bringing overseas cryptocurrency assets held by Indian residents under tax regulation. He stated that India expects to sign the Multilateral Competent Authorities Agreement (MCAA), a global framework for the automatic exchange of tax information, next year. The official clarified that while India had signed the MCAA for financial account information in 2015, it still needed to sign a separate, specific agreement under the CARF framework for crypto assets. To ensure deployment by the 2027 deadline, legislative revisions and system preparations have already begun.