India to begin cross-border crypto data exchange under OECD CARF from April 2027

Exam-focused facts from the 6 February 2026 current affairs briefing.

Key facts

India will start sharing and receiving cross-border cryptocurrency transaction data from April 1, 2027 under the Organisation for Economic Co-operation and Development (OECD) led Crypto-Asset Reporting Framework (CARF).
India is a signatory to the CARF which mandates automatic exchange of crypto transaction information between tax authorities.
From April 1, 2026, non-submission of prescribed crypto transaction statements will attract a daily penalty of ₹200.
Inaccurate reporting or failure to correct errors will draw a flat penalty of ₹50,000 per the budget documents.
The government had introduced a 30% tax on gains and 1% tax deducted at source on crypto transactions in 2022.