The White House is reportedly exploring a new policy that could significantly impact U.S. citizens holding cryptocurrency abroad. According to Solid Intel, the administration is considering granting the Internal Revenue Service (IRS) access to information regarding Americans' overseas cryptocurrency holdings. This potential policy shift aims to crack down on tax evasion and ensure compliance with existing tax laws. Currently, it can be challenging for the IRS to track and tax crypto assets held in foreign exchanges or wallets. Increased access to information would allow the IRS to identify unreported crypto gains and collect owed taxes. The move comes amidst growing global efforts to regulate the cryptocurrency industry and combat illicit financial activities. While details are still emerging, this potential policy signals a stricter approach to the taxation of cryptocurrency assets held offshore by American taxpayers. This could lead to increased scrutiny and reporting requirements for individuals and entities involved in overseas crypto transactions. ```