“Recognising the importance of addressing various tax compliance risks with respect to crypto-assets, the OECD has also introduced the Crypto-Asset Reporting Framework (CARF), designed to ensure the collection and automatic exchange of information on transactions in crypto-assets. To align with global reporting, avoid litigation, and provide certainty to investors, clarifications/deliberations inter alia on open issues (such as characterisation, legislation, valuation, withholding tax applicability on non-residents, wide scope) would ensure that key players do not evade tax in India,” Deloitte said.