Jersey Assembly Considers Draft Regulations to Implement CARF

The Jersey States Assembly Oct. 29 accepted for consideration Draft Regulations No. P.99/2025, to implement the OECD Crypto-Asset Reporting Framework (CARF). The draft regulations include measures to: 1) impose due diligence obligations on reporting crypto-asset service providers (RCASPs), with exceptions; 2) reflect the addendum to the Multilateral Competent Authority Agreement (MCAA) on the Automatic Exchange of Financial Account Information (AEOI) under the common reporting standard (CRS), to expand the scope of CRS reporting and due diligence requirements; 3) align administrative procedures between the CARF and CRS; 4) establish a mechanism to avoid duplicative reporting of certain information covered by the ...