White House proposes legislation on reporting and paying overseas crypto account taxes for U.S. taxpayers

According to Foresight News, according to Decrypt, the White House proposed on Wednesday local time to require Congress to consider legislation to force U.S. taxpayers to file overseas digital asset accounts. The Trump administration said the move would help prevent Americans from transferring crypto assets overseas. The policy proposal said that this policy shift will promote the development and use of digital assets in the United States and alleviate the outside world's concern that the lack of a declaration mechanism may put the US or US digital asset trading platform at a disadvantage.
Disclaimer: The views in this article only represent the author's personal views and do not constitute investment advice of this platform. This platform does not make any guarantees for the accuracy, completeness, originality and timeliness of article information, nor is it liable for any losses caused by the use or trust in article information.