United States, Korea, and Brazil Eye Crypto Tax Crackdown
Increased crypto adoption is attracting greater attention and scrutiny from tax authorities.
The Trump administration has brought greater legitimacy to the crypto and DeFi industries, and as a result, countries such as the United States, Korea, and Brazil are considering new tax regulations for crypto transactions.
On Nov. 17, the White House proposed new rules from the Treasury Department, which would see the U.S. cooperate with the Crypto Asset Reporting Framework (CARF), an international crypto tax agreement.
CARF was formed in 2022 and already involves crypto-friendly nations such as the UAE and Japan, as well as other G8 countries, including Canada and Germany.
In the United States, crypto is treated as property, meaning it is subject…
