The IRS has proposed to the White House to adopt a crypto-asset reporting framework, a new proposal that could change cryptocurrency tax rules

According to regulatory filings, the Internal Revenue Service (IRS) has submitted a proposal to the White House to adopt a set of international standards for the reporting and taxation of digital assets, which is currently under review by the White House.
The proposal, known as the Broker Digital Transaction Report, was submitted to the White House on November 14 and centred on the implementation of the Crypto-Asset Reporting Framework (CARF), a global tax standard that would allow the Internal Revenue Service to access data on offshore crypto-asset accounts held by US citizens. The measure, if implemented, would bring the US tax system in line with 72 other countries that have committed to implementing CARF by 2028.
The filing also noted that the IRS did not classify the measure as a policy with "significant economic impact", but that if implemented, US taxpayers would be subject to stricter standards when reporting capital gains generated by offshore platforms.
The Crypto Asset Reporting Framework (CARF) was launched by the Organization for Economic Cooperation and Development (OECD) in late 2022 with the express goal of promoting the sharing of cryptocurrency-related information among participating countries in order to combat international tax avoidance.