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The Finnland VERO is preparing to join the global crypto transaction tracking system. The OECD standards will be used as a basis. These standards are planned to be implemented in January 2026. They will help solve a long–standing problem - incomplete declaration of income from transactions with digital currencies.

According to VERO, last year, only 18,000 Finns reported profits from operations with cryptocurrencies like Bitcoin and Ethereum. However, according to the tax service, the number of people who should have done this, but did not, can reach 100,000. It turns out that there is a huge difference between the actual number of people working with cryptocurrencies and those who have filed declarations. This indicates a serious problem in the tax administration of this area.

In order to close the gaps in international regulation, the CARF regulatory framework has been developed. The new rules require providers of services related to virtual assets, such as crypto exchanges and wallets, to identify users and keep detailed records of all financial transactions. The reports should include not only regular transfers between fiat and cryptocurrency, but also any internal exchanges, including transactions with stablecoins.

If investors or traders fail to provide accurate information about the income received from operations with crypto, they may face tangible consequences. The amount of punishment will depend on the severity of the violation and range from financial sanctions and fines to administrative liability, and in particularly severe cases, to criminal prosecution for tax evasion.

The introduction of CARF means that the control of the crypt is becoming more systematic. Instead of random checks, there will be an automatic exchange of information between countries, which will make regulation more effective.