End of Privacy in Cryptocurrency as United States Adopts International Tax Standards
- The White House reviews a Treasury proposal to align U.S. crypto tax rules with the OECD's CARF framework, enabling IRS access to Americans' foreign crypto transactions. - CARF, adopted by 70+ jurisdictions including G7 nations, mandates automatic cross-border crypto transaction reporting to combat offshore tax evasion. - The framework would require foreign exchanges to report U.S. crypto holdings to the IRS, mirroring FATCA for traditional accounts while exempting DeFi transactions. - Domestic crypto ov
The White House has started an in-depth evaluation of a Treasury Department plan that would bring the U.S. in line with the international Crypto-Asset Reporting Framework (CARF). This initiative would allow the IRS to monitor Americans’ overseas crypto transactions and aims to reduce offshore tax avoidance. The draft regulations,
Established by the Organization for Economic Cooperation and Development (OECD) in 2022, CARF is an international pact requiring member states to automatically share digital asset information to fight tax evasion.
The Trump administration’s advocacy for CARF is detailed in a July document from the President’s Working Group on Digital Asset Markets. The report stressed that joining CARF would “deter U.S. taxpayers from shifting digital assets to foreign platforms” and help U.S. exchanges stay competitive worldwide
Within the U.S., the IRS has already increased its scrutiny of cryptocurrency activities. From 2026, centralized crypto exchanges will be obligated to report trades using Form 1099-DA, a requirement designed to boost tax reporting.
For Americans, the adoption of CARF could mark the end of anonymous crypto ownership. By 2027, those with digital assets on foreign exchanges may face the same level of IRS oversight as with traditional bank accounts, sharply limiting tax evasion opportunities. Still, privacy advocates and some in the crypto sector have
The proposed regulations are now pending final sign-off from White House officials, with implementation expected to align with the global 2027 timeline. If approved, this would represent a major transformation in U.S. digital asset oversight,
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
U.S. Job Market Slows Down Amid Rising Layoffs and Fed Considers Rate Reduction
- ADP data shows U.S. companies averaging 2,500 weekly layoffs in late October 2025, signaling a slowing labor market. - Major corporations like Amazon and Target announced large-scale layoffs, driven by shifting demand and cost-cutting pressures. - 55% of employed Americans fear job loss, while the Fed considers a December rate cut amid "near stall speed" labor conditions. - Global regulatory scrutiny of tech giants and AI-driven automation adds to concerns about employment impacts and economic stability.
Home Depot Faces Decline: Industry-Wide Slowdown or Company-Specific Challenge?
- Home Depot shares slumped 2–3% premarket after Q3 2025 earnings missed profit forecasts and slashed full-year guidance. - Weak comparable sales growth (0.2% vs 1.3% expected) and housing market pressures highlighted sector-wide challenges. - GMS acquisition added $900M revenue but couldn't offset 1.6% transaction volume decline and margin pressures. - Analysts revised 2025 EPS forecasts down 5% as Stifel downgraded HD to "Hold," reflecting cyclical uncertainty. - Mixed investor reactions persist, with in
Klarna Achieves Highest Revenue Yet, but Strategic Lending Leads to Losses
- Klarna reported $903M Q3 revenue (up 31.6%) but $95M net loss due to higher loan loss provisions as it expands "Fair Financing" loans. - Klarna Card drove 4M sign-ups (15% of October transactions) and 23% GMV growth to $32.7B, central to its AI-driven banking strategy. - Q4 revenue guidance of $1.065B-$1.08B reflects $37.5B-$38.5B GMV, supported by $1B facility to sell U.S. loan receivables. - CEO cites stable loan portfolio and AI-driven efficiency (40% workforce reduction) but warns of macro risks incl
PDD's Rising Profits Fail to Compensate for E-Commerce Expansion Challenges
- PDD Holdings reported mixed Q3 2025 results: $15.21B revenue missed forecasts by $90M despite $2.96 non-GAAP EPS beating estimates by $0.63. - E-commerce growth slowed amid intensified competition in China and U.S. regulatory shifts impacting Temu's operations. - Profitability showed resilience with 14% YoY net income growth to $4.41B, driven by cost discipline and 41% R&D spending increase. - $59.5B cash reserves highlight financial strength, but Q4 revenue projections face risks from pricing wars and g
