White House weighs IRS bid to tax foreign crypto accounts via CARF

Brazil is considering implementing a tax on cryptocurrency used for international payments as it aligns its regulations with a global standard for tax data sharing. This move reflects Brazil's efforts to enhance its tax framework and ensure compliance with international norms in the rapidly evolving cryptocurrency landscape.

The White House is currently reviewing a proposal to adopt an international standard for taxing cryptocurrency, which could discourage American investors from transferring their digital assets to foreign exchanges. This initiative is part of a broader effort to regulate the cryptocurrency market and ensure compliance with tax obligations. The proposal, if implemented, would align the U.S. with global practices in cryptocurrency taxation and potentially increase revenue from digital asset transactions.

The White House is reviewing a proposal to join an international crypto tax standard that could deter Americans from moving their digital assets to offshore exchanges. This initiative is part of a broader effort to regulate cryptocurrency transactions and ensure compliance with tax obligations. The Internal Revenue Service (IRS) is expected to play a key role in implementing this standard, which aims to enhance transparency in the cryptocurrency market.