The U.S. Treasury Department and the IRS have finalized new tax reporting rules for cryptocurrency brokers, requiring them to report user transactions starting in 2026. This move aims to curb tax evasion and aligns crypto tax requirements with those for other financial assets. The regulations, stemming from the 2021 Infrastructure Investment and Jobs Act, could generate $28 billion over a decade. Brokers will be required to report gross proceeds on the sale of digital assets beginning in 2025. The finalized rules include a provision to prevent reporting duplication and introduce a new form, 1099-DA, for reporting. The IRS will not require reporting on most routine stablecoin sales and has set a $600 annual threshold for NFT proceeds before they need to be reported. However, rules for non-custodial entities and decentralized finance (DeFi) platforms have been delayed as the agencies continue to study the issue, including 44,000 comments received.
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) published a final rule on Friday that requires cryptocurrency brokers to report details of digital asset transactions to the tax agency. #Bitcoin $MARA $RIOT $MSTR $IBIT $CLSK $FBTC “The final…
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) published a final rule on Friday that requires cryptocurrency brokers to report details of digital asset transactions to the tax agency. “The final regulations announced today will require brokers to…
IRS, Treasury Announce New Crypto Tax Reporting Rule For Brokers https://t.co/YX64UBuOH6
#Treasury and #IRS Announce #DigitalAsset Tax Reporting Regulations https://t.co/Q8SkzhW3fQ
IRS Finalizes Rules for Crypto Tax Reporting https://t.co/nqnH2sg51M
U.S. Treasury has finalized rules that will require cryptocurrency platforms to report user transactions to the IRS beginning in 2026 https://t.co/IuNKpLcoXR
IRS finalizes new regulations for taxing crypto | TechCrunch https://t.co/fcdZw0NkDn
IRS finalizes new regulations for taxing crypto: https://t.co/8iLuZy9VGN by TechCrunch #infosec #cybersecurity #technology #news
IRS finalizes new regulations for taxing crypto https://t.co/uhTRVq4Wlr
IRS finalizes new regulations for taxing crypto: Crypto platforms will need to report transactions to the Internal Revenue Service, starting in 2026. However, decentralized platforms that don’t hold assets themselves will be exempt.… https://t.co/j0silrLoBr #AI #AInews #AItips
US Treasury finalizes crypto rules to prevent tax evasion https://t.co/NE1UsH1mjo
The IRS and Treasury Department set up its reporting system for crypto brokers, but it's still working on defining how DeFi and non-custodial entities might fit into that regime. https://t.co/o3pTaMThjH
US Treasury, IRS complete new rules on crypto tax reporting https://t.co/Am8btOxd7y
ICYMI: US Treasury and IRS finalize crypto broker tax reporting rules Read the full article 👇 https://t.co/xBZwlnuQci https://t.co/yJntlSGiWv
U.S. Treasury Issues Crypto Tax Regime For 2025 The IRS won't call for reporting on most routine stablecoin sales and is putting a $600 annual threshold on NFT proceeds before they need to be reported. https://t.co/SWeDzCP1l6 https://t.co/uDDKz8ViKA
US Treasury and IRS finalize crypto broker tax reporting rules https://t.co/4RrqFyK7dg https://t.co/AKgMU4Ni3h
IRS releases final regs on #digitalasset reporting. Here's what you need to know: 🧵 Key points Custodial brokers must report starting 2025 New Form 1099-DA introduced Non-custodial/decentralized platforms not included yet Transitional relief provided for 2025 #cryptotax
Treasury issued final regs requiring custodial brokers to report sales and exchange of digital assets. Initial thoughts: What do these regs do? They require digital asset brokers to report their gross proceeds on the sale of digital assets for sales in 2025 starting in 2026.…
Re-upping my thread outlining our concerns on the broker rule proposal. Serious concerns re the proposal’s application to DeFi and unhosted wallets. The IRS rightfully declined to finalize regs as to those participants now - will be coming later this year, after further study. https://t.co/8fbcUcYirS
Final crypto tax regs are here! - We commend the IRS for developing more reasonable, rational rules that focus on custodial brokers, like @coinbase. The rules lay out a more practical timeline for implementation, and include a provision to prevent reporting duplication. 1/4
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
“The final regulations announced today will require brokers to report gross proceeds on the sale of digital assets beginning in 2026 for all sales in 2025. Brokers will be required to also report information on the tax basis for certain digital assets beginning in 2027 for sales… https://t.co/XVCxYnZpfu
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
There’s no shortage of interest in crypto-related legislation on Capitol Hill, and the Biden administration is out with final rules for tax reporting on digital asset transactions. @LauraEWeiss16 details the rules: https://t.co/tk7Y2sAupH https://t.co/n2txnBgEtJ
Today marks a pivotal moment for the digital asset industry with the release of the Treasury’s Finalized Regulations on reporting obligations for digital asset brokers. These regulations, refined through industry feedback, provide much-needed clarity. 🔗👉https://t.co/x9ATAmfPUr
[THE BLOCK] IRS finalizes controversial tax reporting rule for brokers, punts decision on DeFi
IRS finalizes controversial tax reporting rule for brokers, punts decision on DeFi https://t.co/dubcjw24py
Today’s finalized “broker” rulemaking from Treasury and the IRS demonstrates what happens when an industry bands together to make our voices heard. We will continue to watch closely as the IRS determines what to do about DeFi and non-hosted wallet providers later this year and… https://t.co/raZwIlozpx
Lawmakers on both sides of the aisle agree: any digital asset reporting requirement rule must be narrow, tailored, and clear. Unfortunately, @USTreasury's final rule governing crypto tax reporting fails to hit the nail squarely on the head. https://t.co/xLCpY4voQS
"The IRS has now set up its reporting system for crypto brokers, but it set aside related rules for #DeFi and self-hosted wallets as it continues to study 44,000 comments to the agency." @LeXpunK_Army triumphant https://t.co/4EQILNS2lU
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.
When it rains it pours. IRS just dropped a final broker reporting rule on us - nice that they took it out with the Friday evening trash. It does NOT finalize rules pertaining to unhosted wallets and related non-custodial software offerings. They say those offerings are still… https://t.co/EgAwE0BToy
A saving grace amongst all the crypto regulatory news today : at least we won't have to write a response to the final rulemaking on the IRS broker rule and non-custodial entities over the 4th of July week: https://t.co/CbLfwIBoGY
🔵 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
Treasury has finalized its proposed broker rule and appears to have punted on DeFi completely at this stage. While "the Treasury Department and the IRS do not agree that non-custodial industry participants should not be treated as brokers... the Treasury Department and the IRS… https://t.co/wKz2QlcSh3
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
JUST IN: The IRS and Treasury Department set up its reporting system for crypto brokers, but it's still working on defining how DeFi and non-custodial entities might fit into that regime. @jesseahamilton reports https://t.co/GSlvkqWUfO