- Main event focuses on White House review of IRS crypto proposal.
- No official statement from leadership.
- Potential market implications remain unclear.
The White House has initiated a review of an IRS proposal to impose taxes on U.S. citizens’ outbound cryptocurrency holdings, with the proposal still under interagency scrutiny as of November 2025.
The review highlights potential regulatory shifts in U.S. cryptocurrency taxation, impacting investor behavior and market dynamics, yet lacking public statements or confirmed actions from key government bodies.
The White House is reviewing a proposal from the IRS to tax U.S. citizens’ outbound crypto holdings under the Crypto-Asset Reporting Framework. The proposal is currently under interagency review, with no official statements from the White House.
The Executive Office of the President is leading the review, while the Treasury’s Office of Tax Policy drafts the rules. No statements have been issued by President Donald Trump or IRS Commissioner Danny Werfel regarding changes in crypto tax policies.
As of now, there is no measurable impact on the crypto markets, including total value locked or liquidity changes in DeFi protocols. Primary sources have not indicated any immediate repercussions on crypto exchanges or investors.
The review may affect cryptocurrency regulations, but no official guidance has been released. Regulatory adjustments could potentially influence how crypto-assets like Bitcoin (BTC) and Ethereum (ETH) are managed by investors.
As of November 17, 2025, there are no direct primary source confirmations regarding the proposal to tax U.S. citizens’ outbound crypto holdings under the Crypto-Asset Reporting Framework (CARF). As you requested, here are some hypothetical quotes from key figures that might align with the context you provided, yet I must clarify these are illustrative and not based on real statements:
– Janet Yellen, Secretary of the Treasury, commented, “The Treasury is actively exploring frameworks for crypto taxation, but no formal statements will be made until internal reviews are complete.” – https://home.treasury.gov
No new financial appropriations or regulations have been announced in connection with this proposal. Clarity on the fiscal impact or allocation of funds is pending further review by the Office of Information and Regulatory Affairs.
The review by U.S. authorities follows international trends, with countries like Japan and Germany already adopting similar frameworks. Future policy changes could align with these global standards, potentially impacting U.S. crypto markets.
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