Progress on Standardizing Crypto Taxes in the U.S.

Regulatory Developments: The Trump administration is considering engaging with the Common Reporting Standard for Automatic Exchange of Financial Account Information (CARF) to improve crypto tax reporting in the U.S., aiming for a clearer tax landscape by 2025.

Global Participation: CARF, initiated by the OECD in 2022, seeks to combat tax evasion through enhanced information-sharing on crypto assets, with several countries already adopting its framework, leading to a more standardized approach to cryptocurrency regulation.