According to the source, the Trump administration is reviewing a proposal to allow the IRS to access and tax Americans' foreign crypto account data. The source post did not provide an effective date, scope, or implementation details, indicating this is a review stage rather than a finalized rule, per the source. Under current IRS guidance, U.S. taxpayers are taxed on worldwide income, including gains from digital assets, so any expanded access to offshore account data would primarily heighten enforcement and reporting for U.S. persons, according to IRS guidance. Given the source’s report of potential enforcement expansion and the IRS’s worldwide income framework, traders should monitor U.S. exchange inflows, offshore venue liquidity, and any IRS rulemaking updates for possible shifts in market depth and spreads, per the source and IRS guidance.