Ah, the White House-ever so eager to peek into the digital pockets of its citizens. Will their latest proposal grant the IRS unfettered access to offshore crypto escapades, all in the name of “tax oversight”? How delightfully intrusive! 🕵️♂️
A Summary, Because Brevity is the Soul of Wit (And Tax Evasion)
- The White House, in its infinite wisdom, is pondering whether the IRS should have a backstage pass to Americans’ offshore crypto shenanigans. How generous of them.
- This follows a charming little report suggesting the U.S. should “play nice” with global tax standards-because nothing says “freedom” like international bureaucracy. 🌍
- Fear not, DeFi enthusiasts! The White House graciously promises not to completely ruin your fun-just the centralized parts. How thoughtful. 🤡
Ah, bureaucracy at its finest! The White House is now scrutinizing a rule that would let the IRS snoop on taxpayers’ foreign crypto dalliances-because clearly, offshore accounts are far too exotic to be left unsupervised. 🏝️
The proposal, freshly deposited at the Office of Information and Regulatory Affairs (OIRA), awaits judgment. This office, a proud subsidiary of the Office of Management and Budget, exists solely to ensure rules align with presidential whims-because consistency is so overrated.
This thrilling saga began with a digital asset report earlier this year, where the administration lamented the tragic lack of crypto oversight. Truly, a modern Shakespearean tragedy. 🎭
Among its many pearls of wisdom, the report urged the IRS and Treasury to cozy up to the Crypto-Asset Reporting Framework-a global standard designed to make tax evasion slightly more inconvenient. Because nothing says “innovation” like paperwork. 📝
Under this delightful framework, crypto platforms would be forced to spill the beans on transactions-because privacy is so 2017. The White House insists this will deter taxpayers from fleeing to offshore exchanges, as if Americans weren’t already experts in creative accounting. 💸
And yet, in a rare moment of restraint, the report conceded that DeFi should remain untouched-because even bureaucrats know better than to poke a sleeping blockchain bear. 🐻
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2025-11-18 09:05