A new CARF draft under White House review strengthens US participation in global crypto data sharing while clearly stating that no additional reporting obligations will be imposed on DeFi activity.
The White House has begun reviewing a new CARF proposal that could expand access to offshore digital asset transactions conducted by US taxpayers. The move marks one of the most concrete steps taken by Washington toward adopting the global reporting standard designed to improve tax compliance across borders. The draft was submitted to OIRA, which evaluates whether new rules align with presidential priorities.
The proposal outlines a framework that could enable the IRS to access US investor activity occurring on foreign platforms. CARF, introduced as an international standard for automated crypto data sharing, aims to reduce incentives for investors to move assets offshore. A comprehensive digital asset report published this summer strongly recommended that the US adopt this framework. One of the most notable details in the draft is the explicit clarification that no new reporting obligations will be introduced for DeFi transactions. This signals that decentralized finance platforms will not face additional compliance burdens and that the proposal remains focused on global data exchange rather than on chain based activity. According to the OECD timeline, full global implementation is planned for 2027.
If the rule moves forward, the US would gain its most extensive oversight capabilities to date regarding cross border crypto taxation. The development is expected to reignite debates over the increasing regulatory presence in the digital asset market.
