The White House is currently reviewing the U.S. Treasury's proposed rules for participating in the OECD's Common Reporting Standard for Crypto-Assets (CARF). This 2022 framework aims to facilitate automatic cross-border sharing of cryptocurrency account data to combat offshore tax evasion. The proposal specifies that the implementation of CARF should not impose additional reporting requirements on decentralized finance (DeFi) transactions. The global rollout of this framework is planned for 2027.