TechFlow News: On April 15, according to FinanceFeeds, the U.S. Internal Revenue Service (IRS) will formally implement mandatory cost-basis reporting rules for digital asset brokers effective April 15, 2026. These rules apply to centralized exchanges, custodial wallet service providers, and certain digital asset processing entities.
Under the new rules, affected entities must submit Form 1099-DA to both the IRS and taxpayers, documenting sales and exchanges of digital assets. The report states that the IRS’s move aims to narrow the gap in underreported capital gains from digital assets and align cryptocurrency tax reporting standards with those of traditional securities. For investors, this means maintaining more accurate records going forward—including purchase prices, dates, and on-chain transaction histories—for each token held.
