Recently, news about a major exchange synchronizing user information with global tax authorities has spread in the market. I took the time to clarify the true situation behind this matter. To start with the conclusion: mainland Chinese users are not on the synchronization list, but if you hold overseas citizenship, overseas bank cards, or are planning to study or work abroad, then the upcoming tax compliance issues indeed need to be taken seriously.

Many people misunderstood — thinking this is a unilateral decision by the exchange. In fact, it is driven by the OECD’s implementation of the CARF framework, which is the international automatic exchange standard for tax information related to digital assets. The exchanges are simply complying with this set of rules. I reviewed the relevant confirmation documents, which involve 48 countries and regions, including popular locations like Singapore, South Korea, Canada, as well as tax havens like the Cayman Islands, and even Hong Kong has been included.

Why is mainland China not on the list? It’s not “leniency,” but because we already have a clear regulatory framework for digital assets, so there’s no need to rely on international information exchange. However, this does not mean that individuals with overseas connections can relax — the core logic of CARF is “global tax transparency.” This year, 48 regions are involved; next year, it may expand to 58. The era of “cross-border tax evasion” is over.

There are several key milestones to remember: starting in 2026, more countries will officially begin data exchange; information on overseas accounts holding crypto assets will be gradually integrated into national tax systems. For investors with assets, income, or long-term residence plans abroad, it is much more proactive to start tax planning and information disclosure now rather than waiting to be notified.

This wave of changes will have a long-term impact on the exchange and user ecosystem. On one hand, platforms will continue to strengthen KYC requirements and account linkage tracking; on the other hand, the complexity of cross-border investment and digital asset allocation will significantly increase. Compliance costs will rise, but this also means the market environment will become more transparent and regulated, which is beneficial for the industry’s long-term development.