IRS finalizes new regulations for taxing crypto
Crypto platforms must report transactions to the IRS starting in 2026, but decentralized platforms without asset custody are exempt.
MAIN POINTS
- Crypto platforms are required to report transactions to the IRS beginning in 2026.
- Decentralized platforms not holding assets themselves will be exempt from this requirement.
- The regulations were finalized by the IRS and U.S. Department of Treasury.
TAKEAWAYS
- The new regulations are part of the Biden Administration’s Infrastructure Investment.
- Implementation of these rules aims to increase transparency in cryptocurrency transactions.
- Compliance will be mandatory for centralized crypto platforms.