The rapid digitalization of the global economy and the emergence of crypto-assets have introduced new challenges for tax authorities and financial regulators. These digital assets, while offering innovative financial solutions, also pose significant risks related to tax evasion, money laundering, and terrorist financing. The anonymity, decentralization, and cross-border nature of crypto-asset transactions make them particularly vulnerable to misuse.

In response to these challenges, the Organisation for Economic Co-operation and Development (OECD), in collaboration with the G20, developed the Crypto-Asset Reporting Framework (CARF). CARF establishes a global standard for the automatic exchange of tax-relevant information on crypto-assets transactions, complementing the existing Common Reporting Standard for Automatic Exchange of Financial Account Information (CRS), which has also been amended to address emerging risks and improve reporting and due diligence requirements.

The Financial Action Task Force (FATF) has also issued guidance on the application of the Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) standards to virtual assets and virtual asset service providers, emphasizing the need for jurisdictions to implement robust regulatory frameworks to mitigate financial crime risks.

Recognizing the cross-cutting nature of these frameworks, the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) in partnership with the Asian Development Bank (ADB), is co-organizing this regional training. The training aims to build capacity among tax and AML/CFT authorities in ADB’s developing member countries (DMCs) to consider implementing CARF and the amended CRS and/or how to implement them effectively while fostering inter-agency collaboration and regional cooperation.

This training is delivered under the umbrella of the Global Forum’s Asia Initiative, which promotes tax transparency and cooperation across the region. It will feature technical sessions, country case studies, and interactive discussions led by experts from the Global Forum, ADB, FATF-style regional bodies, and other international partners.

This training aims to equip participants with practical knowledge to understand AML and tax development around crypto-assets and to implement or consider implementing CARF and the amended CRS effectively. Recognizing that jurisdictions face diverse challenges in adapting to these evolving international standards, the training will provide a comprehensive overview of the frameworks, with a focus on their legal, operational, and institutional dimensions. Through technical sessions and peer exchanges, participants will explore the implications of crypto-assets for tax compliance and financial regulation, and identify strategies for cross-agency collaboration, particularly between tax and AML/CFT authorities. It will also feature presentations offering insights into early implementation experiences and available support tools. Ultimately, it seeks to foster a whole-of-government approach to tax transparency and strengthen regional cooperation in addressing tax evasion and illicit financial flows.

This event is by-nomination only.