Overview

• South Korea launched its Virtual Asset Information Exchange Agreement and confirmed adoption of the OECD’s CARF, with data collection by local exchanges beginning in 2026 and automatic cross‑border sharing starting in 2027 with roughly 48 countries.
• Korean platforms such as Upbit and Bithumb must collect and report foreign users’ personal and trading data to their home tax authorities, while Koreans’ activity on overseas exchanges will be reported to the National Tax Service.
• The Ministry of Economy and Finance said it will issue an administrative notice this month outlining implementation rules for the new information‑sharing regime.
• CARF reporting covers transactions regardless of value, contrasting with Korea’s KRW 500 million self‑reporting threshold; the NTS says declared overseas virtual assets reached KRW 11.1 trillion this year, up KRW 700 billion from 2024.
• India will adopt CARF by April 1, 2027 and plans to sign the enabling Multilateral Competent Authority Agreement in 2026, with data flows expected to surface offshore holdings and industry advisers warning that past trades could be exposed once reporting begins.