The White House is reviewing tax policies for overseas crypto assets, and the cross-border regulatory framework may be adjusted.

According to ChainCatcher, Decrypt reports that the Trump administration has recently moved forward with a regulatory proposal aimed at authorizing the IRS to access critical information about citizens' overseas crypto accounts and impose taxes.

According to a government website announcement, the Treasury Department's proposal for the United States to join the international crypto tax reporting framework was submitted to the White House on Friday, and the President's advisory team will review it. Earlier this year, the White House urged the Treasury Department and the IRS to develop relevant rules to push the United States to join the Crypto Asset Reporting Framework (CARF) established by the OECD in 2022. This multilateral agreement requires member countries to automatically share information on their citizens' crypto assets to combat cross-border tax evasion. Currently, Japan, Germany, France, Canada, Italy, the United Kingdom, and crypto hubs such as the UAE, Singapore, and the Bahamas among the G7 members have signed it. In a crypto policy report released this summer, Trump's crypto advisory team recommended that the United States join the framework. The White House stated at the time: "Implementing CARF will prevent taxpayers from transferring digital assets to overseas trading platforms, promote the growth and application of digital assets in the United States, and avoid putting the United States at a competitive disadvantage due to the lack of a reporting mechanism." The report required the Treasury Department and the IRS to study specific implementation plans, but specifically emphasized that "no new reporting requirements should be set for DeFi transactions." According to the plan, the global deployment of CARF will officially begin in 2027.