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White House Eyes New IRS Rule to Track U.S. Crypto Activity Offshore
The White House has introduced a new proposal that could expand the IRS’s access to data on U.S. taxpayers‘ cryptocurrency activity on foreign platforms. The proposal, now under review by the Office of Information and Regulatory Affairs, seeks to enhance tax compliance and close existing gaps in crypto oversight. This follows a detailed report released earlier in the year that highlighted the need for better regulation of digital assets. The proposed rule would require digital asset service providers, including foreign exchanges, to share transaction data with U.S. regulators. This would allow the IRS to identify ... (full story)
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