Group 1 - The Trump administration is advancing a key regulatory agenda to include U.S. citizens' overseas crypto assets in the tax collection system, with proposed rules sent to the White House for review [1] - If implemented, the U.S. will officially join the Crypto Asset Reporting Framework (CARF), aimed at combating international tax evasion through automatic information exchange among member countries [1][2] - The White House has previously expressed support for this direction, with a summer report recommending U.S. participation in CARF to create a fair competitive environment for domestic digital asset exchanges [1] Group 2 - CARF, created by the OECD in 2022, requires member countries to automatically share information about their citizens' crypto asset holdings to effectively curb cross-border tax evasion [2] - The framework has garnered support from numerous countries, including all G7 members and key crypto asset hubs like the UAE, Singapore, and the Bahamas, which would enhance the global tax regulatory network's reach and influence with U.S. participation [2] Group 3 - The Trump administration's support for CARF is based on multiple policy considerations, including preventing U.S. taxpayers from transferring digital assets to offshore exchanges and promoting the growth and use of digital assets in the U.S. [3] - The regulatory framework appears to leave room for the rapidly growing decentralized finance (DeFi) sector, with the White House indicating that new reporting requirements should not apply to DeFi transactions, which is crucial for developers and users in that space [3] - The CARF framework is planned to be globally implemented starting in 2027 [3]