Crypto Reporting in Dubai: CARF Rules and 2028 Data Sharing

In 2027, the UAE will activate the OECD’s Crypto-Asset Reporting Framework (CARF). By 2028, crypto account balances and transfers will be shared internationally between tax authorities.

What once felt like “private crypto” will soon sit alongside your bank accounts, property purchases, and even visa renewals in your official financial file.

What is CARF?

A quick refresher

• CARF (Crypto-Asset Reporting Framework) is an OECD blueprint for automatic, annual reporting of crypto-asset transactions and holdings.
• It builds on the existing CRS (Common Reporting Standard) but covers digital assets, exchanges, transfers, conversions, and custody.
• The UAE has signed the Multilateral Competent Authority Agreement under CARF; implementation is planned for 2027, with the first cross-border crypto data exchanges expected in 2028.

What This Means for Your Crypto Assets

• KYC-linked accounts won’t stay private: If your exchange or custodian account is in your name, balances and transfers will be automatically reported.
• Global reach: 52 jurisdictions will begin exchanging crypto data in 2027, with another 17, including the UAE,  joining in 2028.
• Crypto joins the mainstream: From a regulator’s perspective, crypto will be treated no differently than bank accounts or property.

Impacts on Individuals & Investors

1. No more “silent crypto”

If your crypto accounts (on exchanges, custodial wallets, etc.) are in your name with KYC done, balances and transaction histories will be reportable to tax authorities.
Thus, crypto holdings will be treated similarly to bank accounts, real estate, and other financial assets for transparency and tax compliance.

2. Greater cross-border visibility

Over 50 jurisdictions are earmarked to begin exchanging crypto data in 2027, with the UAE joining in 2028.
This means your crypto activity in one place can be matched against disclosures you make elsewhere to detect undeclared gains or mismatches. 

3. Stricter KYC / Platform obligations

Exchanges, wallets, custodians, and other crypto service providers will be required to collect more detailed user data (tax residence, ID, transaction behavior) to meet reporting rules.
Expect enhanced due diligence, onboarding checks, and data retention obligations.

4. Higher compliance costs and complexity

For users holding assets across multiple platforms and wallets, reconciling, aggregating, and filtering which transactions are reportable under CARF will become burdensome.
Some assets or token types may fall into ambiguous zones (e.g. token derivatives, NFTs that qualify as “relevant crypto-assets”), raising uncertainty about what to declare. 

5. Risk of audits, penalties, and exposure

If declarations are inconsistent or incomplete, matching by authorities could trigger audits, penalties, or demands for back taxes. Moving assets for “privacy” may no longer work once reporting is standardized globally.

At TAG Consultancy, we see CARF not just as a compliance deadline, but as an opportunity for investors to get ahead of the curve.

• Audit & Accounting Services: We help you document your crypto holdings properly, avoiding surprises when reporting kicks in.
• Structuring & Trusted Solutions: Our team advises on structures that separate active trading from long-term wealth, reducing personal exposure while staying compliant.
• Compliance Advisory: We ensure your KYC, AML, and reporting frameworks are watertight, so you’re not caught off guard in 2027.

Final Thoughts

Dubai’s crypto market is moving fast, and reporting rules are close behind. We help you audit holdings, reconcile multi wallet activity, and set structures that reduce exposure before 2027. Get clarity now so 2028 data exchanges are routine, not disruptive.

At TAG Consultancy, we help businesses and investors audit, structure, and future-proof their crypto strategies, giving clarity today and confidence tomorrow.