India attracted $340 billion in crypto inflows from June 2024 to June 2025, per OECD, ranking first in Asia. Despite harsh taxes, the country has 119M crypto users. On July 2, Parliament quizzed the RBI on crypto policy for the first time. Three regulatory paths lie ahead.
India's tax authority issued over 44,000 148A notices to crypto traders, uncovering ₹889 crore in unreported transactions. From April 2026, exchanges must report every trade or face ₹200 daily penalty. CARF global data sharing starts April 2027.
New Zealand's Crypto-Asset Reporting Framework (CARF) went live on April 1, 2026, mandating full transaction reporting. This piece compares Kraken, CEX.IO, Coinbase, Independent Reserve, and Bitget on regulation, NZD access, fees, and security. Only Independent Reserve offers direct NZD bank transfers.
Binance enables USDT-to-USD SWIFT wire withdrawals via its licensed subsidiary BPay, addressing P2P freeze risks and compliance gaps. A Bahrain central bank license and Kuwait bank onboarding mark progress in self-built fiat infrastructure.
Revolut launched its first physical crypto card on May 18, 2026, featuring Dogecoin theme and LED glow. Zero swap fee, £100,000 per transaction, worldwide Visa/Mastercard. But every purchase triggers UK capital gains tax.
CARF is set to strengthen global crypto tax compliance by linking tax residency with exchange jurisdictions, enabling authorities to access overseas crypto activity data and focus on fund flows rather than balances alone.
Japan's NTA releases guidelines for implementing the OECD Crypto-Asset Reporting Framework (CARF) from Jan 1, 2026, requiring exchanges to collect user tax residency and automatically share cross-border transaction data. First reports due April 2027.
CLARITY Act advances in US Congress, but Solana Policy Institute's Patrick Wilson warns that complex crypto tax rules are the main barrier to adoption, proposing de minimis exemptions and IRS guidance reforms.
