IRS strengthens crypto tax regulation as filing deadline approaches

According to Odaily, the U.S. Internal Revenue Service (IRS) is increasing regulatory oversight of crypto asset tax compliance, with related enforcement actions intensifying as the April 15 filing deadline approaches.

Reports indicate that approximately 61% of American crypto investors are still unaware of the new reporting rules for the 2025 tax year, and about 52% of investors are concerned about being penalized for filing mistakes. The new regulations require brokers to report digital asset transaction income to the IRS for the first time using Form 1099-DA, but the cost basis must still be calculated by investors themselves.

Industry insiders state that the current regulatory environment is already stringent, and investors must keep comprehensive records of their transactions and wallet data and accurately report them to avoid potential legal risks. (DL News)