When you hold crypto, the Common Reporting Standard, a global system for automatic exchange of financial account information between tax authorities. Also known as CRS, it's not just for banks anymore — it now covers crypto exchanges, custodians, and even DeFi platforms that operate in participating countries. If you're trading, staking, or holding crypto outside your home country, CRS could be reporting your activity to your tax office — whether you like it or not.
CRS works by forcing financial institutions in over 100 countries to collect data on account holders and share it with their home tax agencies. For crypto, that means exchanges like Kraken, Binance (where licensed), and Coinbase must report your name, address, tax ID, account balance, and transaction history if you're a resident of a CRS-participating country. It’s not about suspicion — it’s about transparency. Countries like Germany, the UK, Australia, and Canada already enforce this strictly. If you used a non-compliant exchange or moved crypto to a wallet without reporting, you’re at risk. The FATCA, the U.S. counterpart to CRS focused on American citizens’ foreign assets. Also known as Foreign Account Tax Compliance Act, it overlaps with CRS in many cases, especially if you’re a U.S. person holding crypto abroad. Together, they form a global net that’s tightening every year.
CRS doesn’t just target big exchanges. Even DeFi platforms that offer fiat on-ramps or partner with licensed custodians are being pulled into the system. If you used a platform that integrates with a bank or payment processor in a CRS country, your activity might already be flagged. This isn’t theoretical — in 2024, Germany’s BaFin started requiring crypto custodians to report CRS data quarterly. The UK’s FCA now demands the same for VASPs. And in 2025, more countries will join. The result? No more hiding crypto balances under the radar. The real question isn’t whether CRS applies to you — it’s whether you’ve prepared for it.
What you’ll find in the posts below are real-world examples of how CRS impacts crypto users: from German exchange rules that force compliance, to UK VASP registrations that tie directly to CRS reporting, to how countries like Pakistan and Turkey are adapting their tax systems to match global standards. You’ll also see how fake airdrops and dead exchanges often hide behind the same lack of transparency that CRS was built to fix. This isn’t about fear — it’s about clarity. If you own crypto, you need to know how CRS works. Because the tax man isn’t waiting for you to catch up.
Starting in 2026, global tax authorities will automatically share your crypto holdings and transactions through CRS and CARF. Here’s what you need to know to stay compliant and avoid penalties.
