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White House Considers Joining OECD’s Global Crypto-Asset Reporting Framework

White House Considers Joining OECD’s Global Crypto-Asset Reporting Framework

The Biden administration is evaluating an IRS-backed proposal to adopt OECD’s CARF, potentially standardizing international crypto tax reporting from 2027.

Fact Check
The assessment is based on strong and consistent evidence from multiple highly authoritative sources. The most compelling piece of evidence is the official list published by the OECD, a primary source with very high authority, which explicitly states that the United States is one of the jurisdictions that has formally committed to implementing the Crypto-Asset Reporting Framework (CARF). This goes beyond mere "consideration" and indicates a decision has already been made, which inherently confirms the statement is true. Furthermore, a report from Bloomberg Law News, another highly authoritative source, corroborates this by stating that proposed rules for a crypto reporting framework are under review by the White House. The process of reviewing rules is a clear form of consideration. Although one low-authority source also supports the claim, its contribution is minimal compared to the weight of the OECD and Bloomberg reports. There is no contradictory evidence provided, as the other sources are not relevant to the specific claim. The combination of a high-authority news report and a definitive primary source document makes the statement highly credible.
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Summary

The White House is reviewing a proposal from the Internal Revenue Service to align with the OECD’s Crypto-Asset Reporting Framework (CARF). If adopted, this move would integrate U.S. regulations into a global system for automatic exchange of crypto account information, enabling the IRS to track American citizens’ offshore digital asset holdings. The proposal is part of a coordinated effort to combat tax evasion and enhance transparency, with CARF’s global rollout expected in 2027.

Terms & Concepts
  • OECD: Organisation for Economic Co-operation and Development, an intergovernmental body promoting economic policies and standards.
  • Crypto-Asset Reporting Framework (CARF): An OECD-designed system for exchanging crypto transaction data globally to improve tax compliance.
  • IRS: Internal Revenue Service, the U.S. government agency responsible for tax collection and enforcement.