On January 16, according to CNN, the US Internal Revenue Service (IRS) announced the implementation of a third-party reporting system for cryptocurrency transactions starting from 2025. For the first time, centralized trading platforms such as Coinbase and Gemini will be required to report users' cryptocurrency transaction information to the tax department through the newly established 1099-DA form.
According to the regulations, institutions such as custodial trading platforms, digital asset wallet providers, cryptocurrency ATM operators, and digital asset payment processors are required to track and record users' buying and selling transactions throughout the year and submit reports to users and the IRS in early 2026.
The specific implementation schedule shows that: Crypto asset cost benchmark (purchase price) information reporting will be implemented in 2026; decentralized platforms (such as Uniswap, Sushiswap) peer-to-peer trading reporting will be delayed until 2027, but only the total transaction value will be reported. Newly listed Bitcoin spot ETF transactions will also be reported through Form 1099-B or 1099-DA, including share transactions and taxable events generated within the fund.
US cryptocurrency transactions are included in IRS tax returns for the first time, and a third-party reporting system will be implemented from 2025
2025-01-16 11:36:23
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