US EditionWhite House Muses Giving The IRS Insight Into Offshore Holdings Of US Citizens
Joining the OECD framework would give the IRS automatic access to Americans' offshore crypto accounts, targeting tax evasion and enhancing oversight by 2027.
- On Monday, the White House is weighing a proposal to join the OECD's Crypto-Asset Reporting Framework, giving the IRS direct visibility into Americans' offshore crypto accounts, Decrypto reported.
- To curb offshore evasion, officials say the Trump administration earlier this year urged U.S. Treasury and the IRS to adopt CARF to strengthen transparency and protect American crypto exchanges.
- Most G7 nations and crypto hubs have adopted CARF, while the United States remains uncommitted.
- The policy report instructed U.S. Treasury and the Internal Revenue Service to draft rules, turning offshore wallets into reportable accounts and closing a loophole for American investors.
- As privacy, sovereignty and tax enforcement collide at scale, the administration’s second-term review aligns with broader oversight while officials stress no new DeFi reporting requirements amid CARF implementation timelines for member nations.
19 Articles
19 Articles
White House Muses Giving The IRS Insight Into Offshore Holdings Of US Citizens
The White House is weighing a proposal that could give the IRS direct visibility into Americans' offshore crypto accounts, signaling the biggest shift in U.S. digital-asset oversight in years. Administration Evaluates U.S. Entry Into Global Crypto-Reporting Pact The proposal, as reported first by Decrypto on Monday, involves joining the Crypto-Asset Reporting Framework, a system created by the OECD in 2022. CARF requires participating nations to…
US White House Reviews IRS Policy on Taxing Foreign Crypto Accounts
Key Insights The IRS could soon have access to data on Americans’ offshore crypto accounts, allowing it to tax them. The White House has previously called for the adoption of CARF, making approval likely. President Trump’s administration remains strongly pro-crypto, but crypto prices are down. The US White House is reviewing a proposed rule. This could allow the Internal Revenue Service (IRS) to tax the offshore crypto accounts of Americans. Th…
The growing interest of the United States in strengthening surveillance of offshore digital assets is growing in Washington, D.C. As a proposed rule allowing IRS to access data from US foreign crypt accounts enters the White House's review, this step brings cooperation with foreign regulators closer to reality, pointing to a stronger push to align US tax policy with global reporting standards. The U.S. is advancing towards the CARF, the global c…
White House Reviews Rules For U.S. Participation In CARF
The White House has begun reviewing a proposed rule submitted by the U.S. Treasury that would allow the Internal Revenue Service to obtain information on offshore digital asset holdings maintained by American taxpayers. The measure would bring the United States closer to participating in the global Crypto-Asset Reporting Framework, an initiative developed by the OECD to combat tax evasion and enhance transparency surrounding cross-border crypto …
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