Trump’s White House Moves Toward CARF Crypto Reporting Plans

The Trump administration is advancing a major shift in U.S. crypto oversight as the White House prepares to review new Treasury-backed rules enabling the IRS to access data on Americans’ overseas digital-asset accounts.

According to government disclosures, proposed regulations tied to the international Crypto-Asset Reporting Framework (CARF) formally arrived at the White House on Friday for presidential advisor review. The move marks the closest step yet toward aligning the United States with a global system designed to combat offshore tax evasion through automatic exchange of crypto-related information.

CARF, established in 2022 by the Organization for Economic Cooperation and Development, already includes participation from dozens of countries—among them G7 members Japan, Germany, France, Canada, Italy, and the U.K., as well as major crypto hubs such as Singapore, the UAE, and the Bahamas. The framework requires participating jurisdictions to routinely share data on citizens’ foreign crypto accounts.

Earlier this year, the administration publicly encouraged Treasury and the IRS to pursue CARF alignment, noting that joining the framework would help deter Americans from shifting digital assets to offshore exchanges. The White House’s summer policy report also argued that adopting CARF could strengthen U.S. competitiveness in digital finance while preventing domestic exchanges from being put at a global disadvantage.

The report emphasized, however, that any new rules should avoid creating additional reporting obligations for DeFi transactions, signaling a desire to balance enforcement with innovation.

If adopted, the U.S. would join the international rollout of CARF, currently scheduled to go live in 2027.