Dozens of major countries have issued a joint statement assuring the public that these jurisdictions agree to a set of cryptocurrency tax rules developed by the OECD, known as the Crypto Asset Reporting Framework (CARF). The countries said they intend to quickly translate the CARF into domestic law and initiate exchange agreements in time for exchanges to begin operations by 2027. Jurisdictions that have signed up to the Common Reporting Standard (CRS) will also implement amendments to the standard.