According to the source, the Trump administration is advocating for U.S. participation in the OECD Crypto-Asset Reporting Framework (CARF) to enable the IRS to better identify Americans’ foreign crypto holdings; source: the source. CARF requires virtual asset service providers, exchanges, and custodians in participating jurisdictions to automatically report customers’ crypto account information to local tax authorities for exchange with partner countries under a common standard; source: OECD. OECD states that 48 jurisdictions have committed to implement CARF by 2027, including the EU and UK, expanding reporting coverage across major trading venues; source: OECD. For traders, U.S. alignment with CARF would raise KYC and cross-border reporting requirements for U.S. persons on offshore platforms, reduce opacity around cross-exchange flows, and narrow avenues for untaxed arbitrage, while the IRS has already finalized domestic digital asset broker reporting via Form 1099-DA beginning with 2025 transactions reported in 2026; sources: OECD and IRS.

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.

According to @VanessaGrellet_, on Aug 28 the CFTC issued new guidance on Foreign Board of Trade (FBOT) registration. Source: @VanessaGrellet_. Under the FBOT framework, registered non-U.S. exchanges can offer direct access to U.S. participants subject to CFTC oversight and conditions, which is the mechanism this guidance addresses. Source: CFTC Foreign Boards of Trade program. According to @VanessaGrellet_, the update could reopen U.S. access to global markets, including crypto exchanges. Source: @VanessaGrellet_. For trading desks, market access changes will depend on which offshore venues obtain FBOT status and what products are permitted, as the CFTC maintains a public FBOT registration list and imposes product-level conditions. Source: CFTC FBOT registrations and conditions; @VanessaGrellet_. Near term, monitor exchange announcements and CFTC dockets for FBOT applications and approvals to gauge timing and scope of potential U.S. access to crypto derivatives. Source: CFTC FBOT process; @VanessaGrellet_.

According to @KookCapitalLLC, headlines about US citizens gaining access to Hyperliquid, Binance and other offshore exchanges should be viewed as bullish hype rather than a fundamental catalyst for perpetual futures markets (source: @KookCapitalLLC post on X, Aug 28, 2025). According to @KookCapitalLLC, past launches of perp products by Coinbase and Binance similarly created hype without improving user alignment, with these offerings allegedly trading against users (source: @KookCapitalLLC). According to @KookCapitalLLC, traders should treat such access and product-launch news as sentiment-driven and prioritize assessment of venue mechanics and alignment risks when positioning in perps (source: @KookCapitalLLC).

According to Crypto Rover (@rovercrc), the U.S. CFTC will soon issue guidance allowing U.S. users to trade on offshore crypto exchanges such as Binance, which the source characterizes as massive news. Source: @rovercrc on X, Aug 28, 2025. The post provides no accompanying CFTC document, rulemaking notice, or press release to verify the claim, and the source cites no additional evidence. Source: @rovercrc on X. Given the unverified status, traders should treat this as headline risk and monitor BNB, BTC, and offshore exchange volumes for volatility while awaiting any formal CFTC notice. Source: analysis based on @rovercrc on X.