The White House is reviewing tax policies for overseas encrypted assets, and the cross-border regulatory framework may be adjusted On November 18th, according to Decrypt, the Trump administration recently pushed forward a regulatory proposal aimed at authorizing the IRS to obtain key information on citizens' overseas encrypted accounts and implement taxation. According to a government website announcement, the cooperation proposal from the Treasury Department regarding the United States joining the international crypto tax reporting framework was submitted to the White House on Friday, and the presidential advisory team will conduct a review of it. Earlier this year, the White House urged the Treasury Department and the Internal Revenue Service to develop relevant rules to promote the United States' accession to the "Cryptocurrency Reporting Framework" developed by the OECD in 2022. This multilateral agreement requires member countries to automatically share citizens' encrypted asset information to combat cross-border tax evasion. Currently, Japan, Germany, France, Canada, Italy, the United Kingdom, as well as encryption hubs such as the United Arab Emirates, Singapore, and the Bahamas in the G7, have all signed it. In the encryption policy report released this summer, Trump's encryption advisory team recommended that the United States join the framework. The White House stated at the time that implementing CARF would 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 reporting mechanisms. The report requires the Ministry of Finance and the National Taxation Bureau to study specific implementation plans, but emphasizes that "no new reporting requirements should be set for DeFi transactions". According to the plan, the global deployment of CARF will be officially launched in 2027.