Exchanges Standardize Data as Compliance Regs Gain Momentum

Crypto exchanges are moving towards standardized reporting frameworks to align their data formats and reduce inconsistencies. This shift is driven by new compliance regulations, including CARF (Crypto-Asset Reporting Framework), DAC8, and MiCA (Markets in Crypto-Assets Regulation).

The gap between exchange-reported prices may narrow as more platforms adopt standardization. Currently, users often notice discrepancies when checking the same coin on different exchanges.

Regulators have pushed for a unified approach to tax reporting and anti-money laundering requirements through frameworks like CARF and DAC8. Over 80 countries have implemented some version of the Travel Rule, which requires exchanges to collect sender and receiver details for larger transfers.