The U.S. Treasury Department and Internal Revenue Service just published a proposal that would set new guidelines on what crypto brokers must report for digital asset sales and exchanges.
Under the new rules, the term “crypto brokers” will include crypto trading platforms, digital asset payment processors, certain digital asset-hosted wallet providers and persons who regularly offer to redeem crypto assets that they created or issued.
The proposal seeks to require that brokers report new information on their users’ sales and exchange of crypto assets to tax authorities.
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“Based on existing authority as well as changes to the applicable tax law made by the Infrastructure Investment and Jobs Act, these proposed regulations would require brokers, including digital asset trading platforms, digital asset payment processors, and certain
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