CARF for Swiss bankers, investors and wealth advisors

Crypto Asset Reporting Framework (CARF) – OECD Standard, EU DAC8 & Swiss CARF

A comprehensive introduction to the incoming crypto disclosure regimes featuring the practical operational consequences for banks, investors and their advisors (e.g. asset managers, fiduciaries, financial advisors)

Dissimilarities between CRS and CARF

OECD’s CARF and other digital asset/crypto currency reporting regimes

• What is CARF?
• CARF Timeline, committed jurisdictions and related regimes (e.g. EU’s DAC8)
• What are the similarities with CRS?
• Structure/methodology
• Choice of reporting parties
• Due diligence techniques
• Reportable Information
• What are the key dissimilarities with CRS?
• Regulated activities
• Affected parties
• Reporting triggers
• Account holders and look-through classifications
• Reportable information
• The digital asset regulatory landscape

Impact on investors and advisors

Key CARF points for digital asset investors and their advisors

• Review past positions/uncertainties/interpretations to confirm status and treatment under CARF
• Broad definitional scopes implicate array of digital asset investments
• How do you hold your crypto?
• How do you trade your crypto?
• Will your CRS structure be subject to look-through treatment for CARF?
• What other types of transactions are relevant for CARF (e.g. purchases of goods & services)?
• What other contact points might you have with RCASPs?

Operational impact on banks

Key CARF points for Swiss banks

• Introduction to CARF in Switzerland (a/k/a Swiss CARF)
• What makes a Swiss custodial bank into an RCASP?
• What types of Relevant Crypto-Assets might a Swiss custodial bank hold?
• How do you identify the population of account holders relevant to CARF?
• CARF due diligence – What are the exceptions and requirements for banks?
• CARF reporting – What are the exceptions and requirements for banks?
• Client notification letters
• Enforcement