TechFlow news, July 31 — According to Decrypt, the White House released a 168-page digital asset report recommending that Congress consider legislation requiring U.S. residents and businesses to report foreign cryptocurrency accounts when filing taxes.
The report was issued by the President's Working Group on Digital Asset Markets, chaired by White House crypto and AI envoy David Sacks. The working group proposed implementing the Crypto-Asset Reporting Framework (CARF), aiming to keep crypto activities within the United States. The report指出 that the ease of cross-border transfers and overseas exchanges provides avenues for U.S. taxpayers to evade taxes.
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