The Internal Revenue Service (IRS) has announced a delay in the enforcement of new reporting rules for digital assets. The decision to temporarily halt enforcement comes as the agency awaits further regulations to be established. This move provides a measure of certainty for those dealing with digital assets, as the IRS has clarified that digital assets are not currently subject to cash reporting obligations. The guidance from the IRS offers a reprieve from the anticipated reporting requirements, giving stakeholders in the digital asset space a momentary pause from new compliance measures.
IRS Says Digital Assets Are Not (Yet) Subject to Cash Reporting Obligations https://t.co/TJqnoLYiob
New IRS Guidance Provides a Spot of Certainty Amid Digital Asset Limbo https://t.co/1xH8BmCuKO
New IRS Guidance Provides a Spot of Certainty Amid Digital Asset Limbo https://t.co/dqVPJe5UaJ | by @morganlewislaw
New IRS reporting requirements for digital assets put on ice—for now https://t.co/CuOQJnMuAM
IRS Temporarily Halts Enforcement of Digital Asset Reporting https://t.co/h8nniPsoI1
IRS Delays Enforcement of Digital Asset Reporting Rules, Awaiting Regulations https://t.co/h8nniPsoI1