In a significant move to combat tax evasion in the cryptocurrency markets, the U.S. Treasury Department has finalized new tax reporting rules. These rules require cryptocurrency brokers, including exchanges and payment processors, to report detailed information on users' sales and exchanges of digital assets to the IRS. The comprehensive framework, stemming from the 2021 Infrastructure Investment and Jobs Act, is set to take effect in 2025, with additional requirements starting in 2026. However, regulations for non-custodial entities and DeFi have been delayed. The new rules, which span 365 pages, also cover broker rules, token exchanges, selling rules, and real estate reporting involving cryptocurrency. The Treasury estimates that the rule could generate $28 billion over the next decade.
US Treasury and IRS finalize crypto broker tax reporting rules https://t.co/4RrqFyK7dg https://t.co/AKgMU4Ni3h
The US Treasury finalizes a rule requiring cryptocurrency brokers to report new information on users' sales and exchanges of digital assets to the IRS (@hannahdlang / Reuters) https://t.co/oXLjiCVg6k 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/Ez4pdS19Cr
Crypto Firms Must Report Info On Trades To IRS Under New Anti-Tax Evasion Rule https://t.co/yYHiBl27Ty https://t.co/OKnRbjBhK4
🚨🇺🇸 US TREASURY MANDATES CRYPTO BROKERS REPORT SALES TO IRS TO CURB TAX EVASION Stemming from the 2021 Infrastructure Investment and Jobs Act, the rule could generate $28 billion over a decade. Starting in 2026, it aligns crypto tax requirements with those for other financial… https://t.co/mI5vR0tkiq
U.S. Treasury Finalizes Crypto Tax Reporting Rules for Brokers in 2025, Delays DeFi Regulations https://t.co/14Cvw33dmk
US Treasury finalizes new crypto tax reporting rules https://t.co/mHCwwaP6Kb https://t.co/zoEbhIoo5a
Big news crypto gang. The Treasury and the IRS have issued the final crypto rules This 365 page document goes into but not limited to, the broker rules, token exchanges and selling rules, real estate reporting involving crypto Thanks @EmDeeEm for mentioning it #BreakingNews https://t.co/xPl54ZXy23
LATEST: 🇺🇸U.S. Treasury Unveils Crypto Tax Regime for 2025, Delays Rules for Non-Custodians The U.S. Treasury has introduced a comprehensive crypto tax framework set to take effect in 2025, while postponing regulations for non-custodial entities.
🔵 US TREASURY FINALIZES NEW CRYPTO TAX REPORTING RULES The U.S. Treasury Department finalized a rule on Friday requiring cryptocurrency brokers, including exchanges and payment processors, to report new information on users' sales and exchanges of digital assets to the… https://t.co/OMdG4K0dds
In a long-awaited step against tax evasion in cryptocurrency markets, the Treasury Department adopted a final rule requiring many crypto platforms to begin reporting users’ transactions to the IRS https://t.co/654wAjcoPr