Trump Eyes Global Crypto Tax Surveillance — Why US Traders Should Be Prepared By 2027

Group 1 - The Trump administration is moving towards adopting a global framework for crypto tax compliance, specifically the Crypto-Asset Reporting Framework (CARF) [1][3][7] - CARF, established by the OECD in 2022, aims to facilitate the automatic exchange of crypto-asset information among participating countries, addressing concerns about U.S. competitiveness in the crypto market [3][4] - A significant portion of the President's Working Group on Digital Asset Markets' report focused on tax compliance, highlighting the need for coordinated reporting rules to benefit U.S. exchanges [3][4] Group 2 - Current crypto tax compliance in the U.S. is low, with only about 25% of crypto investors reportedly meeting their tax obligations voluntarily, according to an IRS review in 2023 [6] - The U.S. is preparing for mandatory exchange reporting starting in the 2025 tax year, requiring centralized crypto exchanges to report taxable transactions to both the IRS and customers using Form 1099-DA [7][8] - The administration emphasizes that while implementing CARF, it should not impose excessive burdens on decentralized finance [5]