Recently, I've seen a lot of discussions about CARF from friends, and some tweets have directly turned into FUD against exchanges like Binance and OKX. In reality, CARF does not include mainland China. If you are purely a mainland China tax resident and registered on exchanges using a Chinese passport or ID, your information will not be submitted to the Chinese tax authorities through the CARF system. Currently, the closest region to mainland China is Hong Kong, which is also why I’ve mentioned before that having a Hong Kong identity doesn’t really help in avoiding certain taxes.