IRS
Senator Todd Young is pressing the IRS to revisit its crypto staking tax guidance, arguing it improperly taxes gains that haven't been realized. His intervention raises pressure for clearer rules or legislative relief for stakers.
The White House is considering an IRS-backed push to join CARF, a global tax-reporting system that would make it easier to identify Americans’ cryptocurrency held abroad. The proposal raises privacy and enforcement concerns for crypto holders and offshore platforms.
The Blockchain Association Policy Summit 2023 in Washington, D.C., gathered industry leaders and policymakers to discuss the future of crypto regulation, innovation, and market structure, emphasizing a nonpartisan approach and the need for clear regulatory frameworks.
In 2025, the Treasury and IRS have introduced updated reporting rules for digital asset transactions, including new definitions that cover DeFi brokers. While brokers must start reporting basis information in 2026, transitional relief is provided for reporting failures. Additionally, virtual currencies held in foreign accounts are currently exempt from FBAR reporting, though changes may come.