US Edges Closer to Joining Worldwide Crypto Tax Network
The US crypto landscape is bracing for major regulatory shifts as the White House reviews an IRS proposal that would bring the country into the global Crypto-Asset Reporting Framework.
White House Reviews IRS Plan to Track Offshore Crypto Holdings
The White House has begun evaluating a new Treasury Department proposal that would give the Internal Revenue Service (IRS) expanded authority to track and tax U.S. citizens offshore cryptocurrency accounts. This review signals a stronger federal pushunder the Donald Trump administrationto prevent Americans from using overseas digital asset platforms to avoid tax obligations.
White House weighs IRS bid to tax foreign crypto accounts via CARF
The White House is reviewing a proposal to join an international crypto tax standard that could deter Americans from moving their digital assets to offshore exchanges.