The UAE signs the automatic exchange of information in accordance with the report of encrypted assets
Abu Dhabi, September 20/ WAM/ The Ministry of Finance signed a multilateral agreement between the competent authorities regarding automatic exchange of information under the reporting of the encrypted assets “Carf”, after announcing last November its intention to implement the framework.
The ministry stated in a statement that this framework will enter into force in the state as of 2027, provided that the first exchange of information exchanges in this regard begins in 2028.
The framework sets a mechanism for the exchange of tax information related to encrypted assets automatically, ensuring the provision of certainty and clarity at the level of the encrypted assets sector, while maintaining the principles of global tax transparency.
In this regard, the Ministry of Finance called on all the concerned authorities, especially those working in the fields of providing consulting services, brokers, those working in trading and conservation, trading platforms and all those involved in the encrypted assets sector, to participate in general advice regarding the application of the framework of reporting the encrypted assets in the UAE, and to provide their views and proposals for its potential effects and matters that may require more clarification.
Participation in general advice was opened on September 15th and will last for eight weeks until November 8, 2025 through the platform designated for that, with the aim of formulating clear and effective organizational rules based on the opinions of the experts and the concerned authorities and in a way that meets the needs of the market.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and
