The CARF & CRS Compliance Wall: One Wave of Regulation, Not Two Deadlines

Before either acronym matters, there’s a simpler question: is your business in scope for CARF, for CRS 2.0, both, or not in scope for either just yet? The two regimes impact entities differently, so it isn’t automatic just because a business touches digital assets or cross-border accounts. A crypto exchange or custodian is typically thinking about CARF while a bank, e-money issuer, or fund administrator with reportable financial accounts is typically thinking about CRS 2.0.