Citing Bijiie, the U.S. Internal Revenue Service (IRS) has submitted a proposal titled 'Broker Digital Transaction Reporting' to the White House on November 14, 2025, aiming to implement the OECD's Crypto-Asset Reporting Framework (CARF). CARF is a global tax transparency standard requiring member states to automatically exchange information on citizens' crypto holdings and transactions. The framework targets entities providing crypto services, such as centralized exchanges and wallet providers, mandating them to conduct KYC checks and report data to tax authorities. As of November 2025, 74 jurisdictions have committed to implementing CARF by 2027 or 2028, with the EU set to begin data collection in 2026.
U.S. IRS Submits CARF Proposal to White House, Global Crypto Tax Framework Gains Momentum
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