Canada has announced its intention to adopt the International Crypto-Asset Reporting Framework (CARF) by 2026, setting a precedent in global crypto tax regulation. The move will introduce stringent reporting requirements for crypto asset service providers. This initiative underlines Canada's commitment to ensuring transparency and accountability in the crypto sector, while also addressing potential risks associated with digital assets. The adoption of CARF is expected to significantly impact the operations of crypto businesses, necessitating compliance with comprehensive reporting standards.