The IRS has finalized new regulations on taxing cryptocurrency
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The IRS has finalized new regulations on taxing cryptocurrency
The IRS has finalized new regulations for taxing cryptocurrency, requiring cryptocurrency trading platforms to report transactions to the IRS starting in 2026. However, decentralized platforms that do not hold assets will be exempt. These are the key points of the final rules issued Friday by the IRS and the U.S. Department of the Treasury, effectively implementing a provision from the Infrastructure Investment and Jobs Act passed under the Biden administration in 2021. Even without these new rules, cryptocurrency holders are already required to pay taxes; however, there has been no real standardization on how such holdings should be reported to the government and individual investors. Starting in 2026—covering transactions from 2025—crypto platforms must provide standardized Form 1099s, similar to those issued by banks and traditional brokerage firms. In addition to simplifying cryptocurrency tax filing, the IRS stated it is also working to combat tax evasion.
Navigating Web3 tides with focused insightsTechFlow news: The U.S. Internal Revenue Service (IRS) has finalized new regulations on taxing cryptocurrency, requiring cryptocurrency trading platforms to report transactions to the IRS starting in 2026. However, decentralized platforms that do not hold user assets will be exempt.
These are the key provisions of the new rules finalized on Friday by the IRS and the U.S. Department of the Treasury, effectively implementing a provision from the Infrastructure Investment and Jobs Act passed under the Biden administration in 2021.
Even without these new rules, cryptocurrency holders are already required to pay taxes; however, there has been no real standardization regarding how such holdings should be reported to the government and individual investors. Starting in 2026—covering transactions from 2025—cryptocurrency platforms must provide standardized Form 1099s, similar to those issued by banks and traditional brokerage firms. In addition to simplifying the tax process for cryptocurrency, the IRS stated it is also working to combat tax evasion.
