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  4. Cayman: CRS and CARF consultation updates

Cayman: CRS and CARF consultation updates

08 Dec 2025
|

On 13 November 2025, the Cayman Islands Ministry of Financial Services and Commerce, following recent consultations on the amended Common Reporting Standard (CRS) and the new Crypto-Asset Reporting Framework (CARF), published and acknowledged the valuable and constructive feedback provided by industry stakeholders.

Stakeholder input has been carefully considered in shaping the updated draft Regulations for both frameworks. Detailed Consultation Response documents have been published, summarising the key comments received, identifying a number of important deadlines that will take effect in 2026, and outlining the Ministry’s position.

Cabinet approval will be sought to enact the finalised Regulations.

The CRS consultation responses can be accessed here.

The CARF consultation responses can be accessed here.

Authors
Juan Pablo Urrutia Harneys front portrait image on a grey background
Juan Pablo Urrutia
Partner | Regulatory & Tax | Cayman Islands
Lydia Carstensen Harneys Legal front portrait image on a grey background
Lydia Carstensen
Associate | Regulatory & Tax | Cayman Islands