SCA Opens CARF Public Consultation Amid UAE’s Push to Harmonize Crypto Oversight

The Securities and Commodities Authority (SCA) has opened a public consultation on the proposed Crypto-Asset Reporting Framework (CARF), inviting industry stakeholders to provide feedback by 8 November 2025. The initiative aims to strengthen regulatory compliance and align the UAE with international crypto reporting standards, including the OECD’s updated framework and the 2023 Common Reporting Standard.

This move comes shortly after the SCA and Dubai’s Virtual Assets Regulatory Authority (VARA) announced a strategic partnership to create a streamlined, competitive regulatory framework for virtual assets in the UAE. The partnership envisions license passporting across the country, allowing virtual asset service providers (VASPs) licensed under either authority to operate nationwide without additional approvals, reducing friction and enhancing supervisory oversight.

Through the CARF consultation, stakeholders can review the guidance document and submit their opinions to help shape clear and effective governance standards for crypto-asset reporting. This move underscores the UAE’s commitment to robust yet flexible crypto regulations, attracting global investors while safeguarding market integrity.