CRS is the global rule that requires financial companies to report customers' account details to tax authorities, who share them with other countries. CRS 2.0 extends it to digital money, like e-money and stablecoins, so payment apps, neobanks, and wallet providers now have to report too, many for the first time.
Who
Banks and financial firms already reporting under CRS, plus payment apps, e-money firms, neobanks, and wallet providers.
What
Each customer's identity, tax residency and account details, now including e-money and stablecoins.
When
Already underway. New customers have had to confirm their tax details since January 1, 2026 in 40+ countries. First reports are due in 2027.
Do next
Start collecting tax details from new customers, and check which of the countries you operate in are live.
How Taxbit helps
Taxbit collects customers' tax details when they sign up, works out which accounts you need to report, and creates the report for each country. It runs alongside your CARF, DAC8, and 1099-DA reporting, so you don't need a separate tool for each.
CRS 2.0 is the OECD's update to the Common Reporting Standard, the global rule for reporting financial accounts to tax authorities. The original standard dates from 2014 and was built to stop cross-border tax evasion. The update adds digital money, like e-money, central bank digital currencies and regulated stablecoins.
It adds products that didn't exist or didn't clearly fit when CRS was written: e-money, central bank digital currencies, regulated stablecoins, and investments that earn income from digital assets. Each country decides what counts as a regulated stablecoin.
Payment apps, e-money firms, neobanks and wallet providers that hold money for customers. You can be in scope even if you have no crypto at all, because e-money is covered on its own. Firms already reporting under CRS add the new products to their existing process.
It started on January 1, 2026 in more than 40 countries, including the whole EU, the UK, Japan, Korea, Brazil and the Cayman Islands. In those countries, you must collect tax details from new customers now and report 2026 activity in 2027. Other countries are on their own timelines. Going Global shows where each country stands.
A self-certification is the form where a customer confirms their tax details. For a person, that means their name, address, date of birth, every country where they pay tax, and a tax ID for each. For a business, it also means its CRS classification and, where required, the people who control it.
CARF is a separate rule just for crypto transactions. CRS 2.0 updates the existing CRS to cover e-money, stablecoins and similar products. Most in-scope firms report under both, and Taxbit creates both from the same data.
No. FATCA is the US rule for reporting foreign accounts, and CRS is the global version most other countries adopted. They're separate, and firms in scope for both report under each.
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