IRS, Treasury Announce New Crypto Tax Reporting Rule for Brokers

The new rules are part of an effort to boost tax compliance among high income individuals, said the IRS chief. 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 report gross proceeds on the sale of digital assets beginning in 2026 for all sales in 2025,” the Treasury said in a June 28 press release. “Brokers will...