Key Metrics
10.79
Heat Index-
Impact LevelMedium
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Scope LevelNational
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Last Update2025-11-17
Key Impacts
Positive Impacts (3)
Negative Impacts (3)
Event Overview
The review of proposed rules to join the OECD's Crypto-Asset Reporting Framework (CARF) highlights the U.S. government's efforts to enhance tax transparency and combat offshore tax evasion. The framework, supported by key international players, would provide the IRS with access to data on Americans' overseas crypto holdings.
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White House Reviews Proposed Rules for Joining Global Crypto Asset Reporting Framework
The White House is reviewing a draft of rules proposed by the U.S. Treasury to join the global Crypto-Asset Reporting Framework (CARF). The CARF, created by the OECD in 2022, aims to curb offshore tax evasion and has been adopted by G7 countries and major cryptocurrency hubs. If implemented, the IRS would gain access to data on U.S. citizens' overseas crypto accounts. Advisors to Trump support U.S. participation in CARF. The rules are expected to be finalized by 2027 but will not include new DeFi reporting requirements.