IRS has finalized new regulations for taxing cryptocurrencies

Bitget2024/06/29 22:00

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!

A welcome pack worth 6200 USDT for new users! Sign up now!

The IRS has finalized new regulations for taxing cryptocurrencies, and cryptocurrency trading platforms will be required to report transactions to the Internal Revenue Service (IRS) starting in 2026. However, decentralized platforms that do not hold assets will be exempt. These are the main elements of the new regulations finalized by the IRS and the U.S. Treasury Department on Friday, essentially implementing a provision of the Infrastructure Investment and Jobs Act passed by the Biden administration in 2021. Even without these new regulations, cryptocurrency holders would be required to pay taxes; however, there is no real standardization on how these holdings will be reported to the government and individual investors. Starting in 2026 (covering transactions in 2025), cryptocurrency platforms will have to provide standardized 1099 forms, similar to those sent by banks and traditional brokerage firms. In addition to streamlining the cryptocurrency tax process, the IRS has said it is working to crack down on tax evasion.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.

Trade now！

After the Jackson Hole meeting, the market's focus has shifted to interest rate hike expectations. However, Morgan Stanley economist Carpenter pointed out that Walsh's long-standing stance on reducing the $7 trillion balance sheet should not be overlooked. It is expected that the Federal Reserve may begin a balance sheet reduction of more than $1.5 trillion next year, partially replacing rate hikes.

华尔街见闻•2026/08/31 00:41