White House Pushes for Reporting of Overseas Digital Assets đșđžđ°
đą According to Foresight News, the White House has proposed new legislation requiring U.S. taxpayers to report digital asset accounts held overseas.
đ§Ÿ This move is aimed at preventing crypto assets from being transferred abroad by American citizens, a step the Trump administration claims will boost domestic digital asset innovation.
âïž The proposal also seeks to level the playing field for U.S.-based digital asset platforms, addressing concerns over the lack of reporting mechanisms.