U.S. Department of the Treasury, IRS Release Proposed Regulations on Sales and Exchanges of Digital Assets by Brokers

The U.S. Department of the Treasury and the IRS have released proposed regulations on the sale and exchange of digital assets, requiring brokers to report certain transactions and helping taxpayers determine their tax obligations.

treasury.gov

Relevant topic timeline:

8/25/2023

U.S. Crypto Tax Proposal Lets Miners Off the Hook, Snares ‘Some’ Decentralized Exchanges

The US Treasury Department has proposed new tax rules for crypto exchanges, hosted wallet providers, and payment processors, requiring them to meet tax reporting obligations, while exempting miners and some decentralized finance platforms.

8/25/2023

Sweeping U.S. Tax Proposal Met With Boos From Crypto World

The U.S. Treasury Department's new proposal on digital asset taxes is facing criticism from the crypto industry, as it may capture decentralized operations that are difficult to comply with, although it may also provide a clear path for crypto investors to file their taxes.

8/29/2023

Treasury proposes crypto reporting rule to 'close the tax gap.' What it means for investors

The U.S. Treasury and IRS have proposed regulations for crypto tax reporting, emphasizing the importance of accurately reporting and tracking crypto activity; investors are advised to consider amending past tax returns and keep their own records despite the introduction of Form 1099-DA.

9/6/2023

IRS’s New Crypto Tax Rules Pose A Threat To DeFi

The IRS has issued proposed regulations defining the term "broker" in relation to digital assets, including decentralized finance platforms, and outlining tax reporting requirements for cryptocurrency transactions, which could have implications for DeFi platforms and users.

9/7/2023

New Accounting Rules Help Companies Holding Crypto Like Tesla

The U.S. Financial Accounting Standards Board has voted to change how digital assets are valued, a move that could benefit companies, including Tesla and Bitcoin, that hold cryptocurrency.

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Posted 8/25/2023, 12:45:00 PM

U.S. Department of the Treasury, IRS Release Proposed Regulations on Sales and Exchanges of Digital Assets by Brokers

treasury.gov

Relevant topic timeline:

8/25/2023

U.S. Crypto Tax Proposal Lets Miners Off the Hook, Snares ‘Some’ Decentralized Exchanges

8/25/2023

Sweeping U.S. Tax Proposal Met With Boos From Crypto World

8/29/2023

Treasury proposes crypto reporting rule to 'close the tax gap.' What it means for investors

9/6/2023

IRS’s New Crypto Tax Rules Pose A Threat To DeFi

9/7/2023

New Accounting Rules Help Companies Holding Crypto Like Tesla

The U.S. Financial Accounting Standards Board has voted to change how digital assets are valued, a move that could benefit companies, including Tesla and Bitcoin, that hold cryptocurrency.