White House Reviewing IRS Proposal to Tax Outbound Cryptocurrency Holdings

The White House is currently reviewing an IRS proposal to impose taxes on U.S. citizens’ outbound cryptocurrency holdings, a move that could significantly impact cryptocurrency regulations and investor behavior. The proposal, part of the Crypto-Asset Reporting Framework (CARF), is undergoing interagency review with no official statements from President Trump or IRS Commissioner Danny Werfel. This potential shift in U.S. crypto taxation remains unclear as it awaits final approval, though its effects on crypto markets are yet to be fully observed.