![OECD released CARF OECD released CARF](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJ5K6TGx3gJANP9KH0fRleE7PXVLZ4Sdh4kG5DSMHfR3_q8vi2mh7oNLmMMXa1-9pIPLBTw6v8fR59Q0HfsOKQZM3oZq961tv7HE4qS628DG6WuzbUiQ8GxRbVmnhMn9zOCb1JtSuR4kgev-2jdZG6rVUkjwCiww4ugfNjCHFMkWRMyjEq1L7tyS64vA/w320-h240-rw/OECD.jpg)
- It provides for reporting tax information on transactions in Crypto-Assets in a standardized manner.
- CARF intends to combat international tax evasion using digital assets like Cryptocurrency.
- Last year, the crypto industry went from $715 billion to almost $ 3trillion in market capitalization.
- Under CARF, due diligence procedures are followed for the identification of both individual and entity customers.
- CARF is in line with the common reporting standards of the OECD.
- Static part- CRS was published by OECD in 2014 and it is made to ensure transparency on cross-border financial investments and to deal with offshore tax evasion.
Question:
Q.1 What is the full form of CARF?
a. Crypto-Asset Reforming Framework
b. Crypto-Assets Regulating Framework
c. Crypto-Asset Reporting Framework
d. Cryptocurrency-Asset Reporting Framework
a. Crypto-Asset Reforming Framework
b. Crypto-Assets Regulating Framework
c. Crypto-Asset Reporting Framework
d. Cryptocurrency-Asset Reporting Framework