Key Points
- •The Trump administration has proposed a global crypto tax framework for the U.S.
- •The proposal aims to facilitate the reporting of overseas crypto accounts.
- •Decentralized finance (DeFi) transactions are currently exempt from new reporting requirements.
U.S. Moves Towards Joining OECD Crypto Framework
The Trump administration has officially submitted a proposal for the United States to join the OECD's Cryptocurrency Asset Reporting Framework. This initiative is designed to enhance U.S. tax compliance concerning overseas crypto accounts, with a global implementation targeted for 2027.
This move has the potential to reshape global crypto tax norms. It is expected to increase scrutiny on custodial assets and require compliance upgrades from cryptocurrency exchanges. Importantly, decentralized finance operations are currently excluded from these new reporting mandates.
President Trump's administration has been promoting a regulatory initiative that involves the U.S. joining the OECD's framework. This framework mandates member countries to share cryptocurrency asset information automatically, with the primary objective of combating cross-border tax evasion.
If this proposal is approved, the IRS will require U.S. taxpayers to report their overseas cryptocurrency accounts. This measure is intended to facilitate international tax information exchange. The initiative is explicitly not designed to impose new reporting requirements for DeFi transactions.
Senator Cynthia Lummis, a notable advocate for Bitcoin, has unveiled digital asset tax legislation. She has emphasized the critical importance of modernizing cryptocurrency taxation. The proposal's intention to exclude DeFi transactions from new reporting requirements has been met with welcome reception. Key stakeholders view this as a beneficial step that could foster growth for U.S. digital assets.
Bitcoin's Market Performance Amidst New Regulatory Proposals
The Cryptocurrency Asset Reporting Framework is modeled after the Foreign Account Tax Compliance Act (FATCA), which also addressed cross-border financial data sharing.
According to CoinMarketCap data, Bitcoin (BTC) is currently priced at $93,900.83, with a market capitalization of $1.87 trillion as of November 17, 2025. Bitcoin's market dominance stands at 58.55%. In recent trading activity, BTC has recorded a -0.32% change in the past 24 hours and a -10.94% change over the past week.
The Coincu research team observes that adherence to international frameworks like CARF could stimulate innovative financial technologies. Analysts stress the necessity of clear regulatory guidelines to strengthen the U.S.'s competitive position within the global digital asset market.