Trump Administration Proposes U.S. Crypto Tax Compliance Framework

The Trump administration has proposed a global cryptocurrency tax framework for the US, aiming to enhance compliance for overseas crypto accounts. This proposal seeks to ensure automatic reporting of overseas crypto assets, potentially impacting custodial holdings and exchanges while exempting decentralized finance (DeFi) transactions. The move aligns with the OECD’s Cryptocurrency Asset Reporting Framework, targeting full implementation by 2027.