US Proposes Crypto Tax Rules for Global Alignment

Treasury Department Proposes Crypto Tax Reporting Rules Aligned with Global StandardThe Treasury Department has submitted proposed rules for international crypto tax reporting to the White House, aiming to align the U.S. with the global Crypto-Asset Reporting Framework (CARF). This move follows the White Houses earlier encouragement for the Treasury and IRS to develop these rules, with the goal of joining CARF and promoting transparency in the digital asset space. Many nations, including major economic powers and crypto-friendly countries, have already committed to CARF. The White House believes implementing CARF would discourage offshore tax evasion and promote U.S. digital asset growth. The global rollout of CARF is set for 2027, giving the U.S. time to finalize its approach.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.