Liechtenstein: Implementation of CARF and revised CRS approved

The government of Liechtenstein on July 8, 2025, approved the report and proposal regarding the implementation of the cryptoasset reporting framework (CARF) Multilateral Competent Authority Agreement (MCAA) and the addendum to the common reporting standard (CRS) MCAA.

The government also adopted the report and proposal for the CARF Act, amendments to the Automatic Exchange of Information (AEOI) Act, and other related laws. All amendments are scheduled to become effective on January 1, 2026.

Liechtenstein had previously signed the CARF MCAA and the CRS MCAA addendum on November 26, 2024, along with other jurisdictions. Both documents, together with the Multilateral Convention on Administrative Assistance (MAK), establish the legal basis for the AEOI under the CARF and the revised CRS framework.

CRS revision and alignment with the European Union (EU)

Liechtenstein implements the AEOI with EU member states under the Liechtenstein-EU AEOI agreement. To incorporate the revised CRS, Liechtenstein and the European Commission negotiated an amendment to this agreement, which was initialed in June 2025. The amending protocol recognizes Liechtenstein’s constructive and transparent cooperation, high level of implementation, and alignment with EU standards. The protocol is expected to be signed in the course of 2025 and will become effective in parallel with the CRS MCCA Addendum on January 1, 2026.

Implementation of CARF with EU member states

Unlike the CRS, the implementation of CARF with the EU member states does not require a separate agreement. Instead, it will be implemented based on the CARF MCAA. 

Read a July 2025 report prepared by the KPMG member firm in Liechtenstein