White House Unveils Global Crypto Tax Framework to Protect DeFi

The U.S. government has taken a significant step towards regulating the crypto industry with the introduction of a global framework for reporting digital asset transactions. The framework, based on the OECD’s Crypto-Asset Reporting Framework (CARF), aims to tackle offshore tax evasion while promoting innovation in the decentralized finance sector. 2027 is targeted as the start date for implementation of CARF.