On 14 April 2025, the United Arab Emirates Cabinet of Ministers as well as the Turkish government approved the signing of the Multilateral Competent Authority Agreement on Automatic Exchange of Information pursuant to the Crypto-Asset Reporting Framework (CARF MCAA).

The CARF provides for the reporting of tax information on transactions in crypto-assets in a standardized manner, with a view to automatically exchanging such information. According to a OECD document on CARF commitments, the United Arab Emirates intends to exchange information under CARF by 2028.

As such both Turkey and USA have become part of the jurisdictions committed to implement the Crypto-Asset Reporting Framework
(CARF) in time to commence exchanges in 2027 or 2028 as part of the Global Forum’s CARF commitment process.

The UAE currently does not tax individuals on their crypto holdings.