IRS Simplifies Crypto Tax Reporting with New Draft of 1099-DA
IRS unveils a simplified 1099-DA form for 2025, removing wallet addresses and transaction IDs to ease digital asset reporting, though some experts call for further improvements.
Xu LinIRS unveils a simplified 1099-DA form for 2025, removing wallet addresses and transaction IDs to ease digital asset reporting, though some experts call for further improvements.
Xu LinOn April 19, the U.S. Internal Revenue Service (IRS) released the first draft tax form specifically for digital asset transactions, 1099-DA, which is intended to report digital asset gains from broker transactions.
JinseFinanceThe IRS has released a draft 1099-DA tax form, which experts warn will allow for large-scale collection of Bitcoin trader identities and transfer data from encrypted wallet addresses.
AlexBeginning January 1, 2025, brokers, digital trading platforms, payment processors, and custodial wallet providers must issue this form for all digital asset sales or trades.
JinseFinanceUSDC has regained its $1 peg.
BeincryptoAccording to Coinbase, regulatory compliance and asset security have always piqued its interest.
The Crypto StarConnect your crypto wallet to the Coinbase marketplace, and have ETH in your wallet to bid, buy and sell NFTs on Coinbase.
CointelegraphLaunched in 2018, Coinbase Pro is designed to feature unlimited trading volumes, supporting more than 250 cryptocurrencies.
CointelegraphCoinbase CEO Brian Armstrong said the U.S. SEC will not meet with the company, adding that 50 percent of officials in Washington are concerned about the risks of cryptocurrencies.
CointelegraphCoinbase added wallet support for SOL and Solana-based tokens, and said it will also support NFTs and dApps on the blockchain in the future.
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