A proposed rule granting the IRS access to data on Americans’ international cryptocurrency transactions is now under review by the White House.
The rule, delivered to the Office of Information and Regulatory Affairs on Friday, would implement the global Crypto-Asset Reporting Framework (CARF).
This framework would force digital asset service providers abroad to report specific US customer transactions, a measure the administration says will improve tax compliance and support the US digital asset industry.
The move follows a White House digital asset report this summer that recommended the IRS and Treasury pursue such a rule, while explicitly shielding DeFi transactions from new reporting burdens.
